Ford to equip EVs with built-in connector of Tesla Supercharger from 2025 onward

Stanphyl Capital’s commentary for the month ended March 31, 2022, discussing their short position in Tesla Inc (NASDAQ:TSLA). We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA) which, despite a steadily sliding share of the world’s EV market and a share of the overall auto market that’s only around 1.5%, […] Stanphyl Capital’s commentary for the month ended March 31, 2022, discussing their short position in Tesla Inc (NASDAQ:TSLA). We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA) which, despite a steadily sliding share of the world’s EV market and a share of the overall auto market that’s only around 1.5%, Trevor Scott points out has a market cap roughly equal to the next 20 largest automakers combined: if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q4 2021 hedge fund letters, conferences and more So here’s why we remain short Tesla: Tesla has no “moat” of any kind; i.e., nothing meaningfully proprietary in terms of its electric car technology (which has now been surpassed by numerous competitors), while existing automakers—unlike Tesla­—have a decades-long “experience moat” of knowing how to mass-produce, distribute and service high-quality cars consistently and profitably. Excluding working capital benefits and sunsetting emission credit sales Tesla generates negative free cash flow. Growth in sequential unit demand for Tesla’s cars is at a crawl relative to expectations. Elon Musk is a pathological liar who under the terms of his SEC settlement cannot deny having committed securities fraud. Tesla’s Q1 Deliveries Tesla’s Q1 2022 delivery number (to be reported in early April) will likely only be slightly better than Q4 2022’s 308,000, perhaps a 20,000 (or fewer) unit gain that would be a rounding error for an auto company trading at even one-tenth of Tesla’s valuation. If in any quarter GM or VW or Toyota sold 2.02 million vehicles instead of 2 million or 1.98 million, no one would pay the slightest bit of attention to the difference. Seeing as Tesla is still being valued at over seventeen GMs, it’s time to start looking at its relatively tiny numerical sequential sales growth, rather than Wall Street’s sell-side hype of “percentage off a small base.” In other words, if you want to be valued at a giant multiple of “the big boys,” you should be treated as a big boy. And yes, Tesla is somewhat capacity constrained, but so are all its competitors. Let’s see how quickly “constraint” morphs into “excess capacity” when the German and Texas factories are fully online! Meanwhile in January Tesla reported results for Q4 2021 and once again proved that it’s a truly horrible business. Although the company claimed to have generated $2.8 billion in free cash flow for the quarter, that was almost entirely created by massively increased payables & accrued liabilities, and by stock-based compensation. After adjusting for those factors (and a tiny increase in receivables), Tesla’s free cash flow was just $119 million, and that undoubtedly included several hundred million dollars of previously earned & billed emission credit sales, a revenue stream which will almost entirely disappear next year as other automakers begin selling enough electric cars of their own. Thus, despite all the sell-side and media hype, on a sustainable basis Tesla’s free cash flow is still resoundingly negative. An Energy Company And for those of you who think that Tesla is “really an energy company,” in Q4 “Tesla Energy” had revenue of $688 million (down 8.5% year-over-year and 8% sequentially) and cost of revenue of $739 million, meaning it had a negative gross margin. So if Tesla is “really an energy company,” it’s even more screwed than if it’s just a car company! Meanwhile, perhaps the biggest reason Tesla has recently been able to post marginally increasing sequential quarterly deliveries is because competitors’ production is at the lowest level in decades due to the massive chip shortage, thereby eliminating a number of “Tesla alternatives.” Yet Tesla is enjoying record production because Musk (a notorious “corner-cutter”) is apparently willing to either substitute untested, non-auto-grade chips for the more durable chips he can’t get (please see my Twitter post about this) or simply eliminate entire crucial safety systems such as back-up steering and crash-avoidance radar. Meanwhile, many Tesla bulls sincerely believe that ten years from now the company will be twice the size of Volkswagen or Toyota, thereby selling around 20 million cars a year (up from the current run-rate of around 1.3 million); in fact in March Musk himself even raised this as a possibility. To illustrate how utterly absurd this is, going from 1.3 million cars a year today to 20 million in ten years means that in addition to one million cars a year of eventual production from the new German and Texas factories, Tesla would have to add 35 more brand new 500,000 car/year factories with sold out production; i.e., a new factory nearly every single quarter for ten years! And what then? Well, then you’d have a car company approximately twice the size of Toyota (current market cap: $249 billion) or Volkswagen (current market cap: $110 billion). If that would make Tesla worth, say, $500 billion in 10 years, discounting that back at 15%/year and allowing for enough share dilution to pay for all those factories, Tesla—in that absurdly optimistic scenario—would be worth just $100/share today, down almost 93% from its current price. Another favorite hype story from Tesla bulls has been “the China market.” But based on the Chinese domestic (non-export) sales numbers we have for January and February it appears that Q1 2022 sales there barely grew (or may have even contracted)  from Q4 2021’s. And in Q4 Tesla had only around 1.5% of the overall Chinese passenger vehicle market and just 11% of the BEV market. Meanwhile,  as Tesla continues to sell its fraudulent & dangerous so-called “Full Self Driving” the head of that program just took a four-month sabbatical; the last major Tesla executive who did that (Doug Field) never returned. In a sane regulatory environment Tesla, having sold this garbage software for over five years now… …would be prosecuted for “consumer fraud,” and indeed the regulatory tide may finally be turning, as two U.S. senators continue to question its safety and in October the NHTSA appointed a harsh critic of this deadly product to advise on its regulation. (For all known Tesla deaths see here.) Are major write-downs and refunds on the way, killing the company’s slight “claimed profitability”? Stay tuned! Meanwhile, Guidehouse Insights continues to rate Tesla dead last among autonomous competitors: Another favorite Tesla hype story has been built around so-called “proprietary battery technology.” In fact though, Tesla has nothing proprietary there—it doesn’t make them, it buys them from Panasonic, CATL and LG, and it’s the biggest liar in the industry regarding the real-world range of its cars. And if new-format 4680 cells enter the market some time in 2024 (as is now expected), even if Tesla makes some of its own,  other manufacturers will gladly sell them to anyone. Build Quality Meanwhile, Tesla build quality remains awful (it ranks second-to-last in the latest Consumer Reports reliability survey) while the latest survey from British consumer organization Which? found it to be one of the least reliable cars in existence. And Tesla’s worst-rated Model Y faces current (or imminent) competition from the much better built electric Audi Q4 e-tron, BMW iX3, Mercedes EQB, Volvo XC40 Recharge, Volkswagen ID.4, Ford Mustang Mach E, Nissan Ariya, Hyundai Ioniq 5 and Kia EV6. And Tesla’s Model 3 now has terrific direct “sedan competition” from Volvo’s beautiful Polestar 2, the great new BMW i4 and the premium version of Volkswagen’s ID.3 (in Europe), plus multiple local competitors in China. And in the high-end electric car segment worldwide the Audi e-tron (substantially improved for 2022!) and Porsche Taycan outsell the Models S & X (and the newly updated Tesla models with their dated exteriors and idiotic shifters & steering wheels won’t change this), while the spectacular new Mercedes EQS, Audi e-Tron GT and Lucid Air make the Tesla Model S look like a fast Yugo, while the extremely well reviewed new BMW iX does the same to the Model X. And oh, the joke of a “pickup truck” Tesla previewed in 2019 (and still hasn’t shown in production-ready form) won’t be much of “growth engine” either, as it will enter a dogfight of a market; in fact, Ford’s terrific 2022 all-electric F-150 Lightning now has over 200,000 retail reservations (plus many more fleet reservations), GM has introduced its fantastic 2023 electric Silverado with over 110,000 reservations and Rivian’s pick-up has gotten excellent early reviews. Regarding safety, as noted earlier in this letter, Tesla continues to deceptively sell its hugely dangerous so-called “Autopilot” system, which Consumer Reports has completely eviscerated; God only knows how many more people this monstrosity unleashed on public roads will kill despite the NTSB condemning it. Elsewhere in safety, the Chinese government forced the recall of tens of thousands of Teslas for a dangerous suspension defect the company spent years trying to cover up, and now Tesla has been hit by a class-action lawsuit in the U.S. for the same defect. Tesla also knowingly sold cars that it knew were a fire hazard and did the same with solar systems, and after initially refusing to do so voluntarily, it was forced to recall a dangerously defective touchscreen. In other words, when it comes to the safety of customers and innocent bystanders, Tesla is truly one of the most vile companies on Earth. Meanwhile the massive number of lawsuits of all types against the company continues to escalate. So here is Tesla’s competition in cars... (note: these links are regularly updated) Porsche Taycan Porsche Taycan Cross Turismo Porsche Macan Electric SUV Officially Coming in 2023 Volkswagen ID.3 Volkswagen ID.4 Electric SUV Volkswagen unveils ID.6 SUV EV in China Volkswagen ID.Buzz electric van Volkswagen ID Vizzion confirmed - answer to the Tesla Model 3 VW’s Cupra brand counts on performance for Born EV Cupra, VW brand to get entry-level battery-powered cars Volkswagen unveils $7.1B commitment to boost product line-up, R&D, mfg in N. America Audi e-tron Audi e-tron Sportback Audi E-tron GT Audi Q4 e-tron Audi Q6 e-tron confirmed for 2022 launch 2022 Audi A6 e-tron set to take on Tesla Audi will expand EV lineup with electric A6 wagon Audi TT to be axed in 2023 for 'emotional', electric replacement Hyundai Ioniq 5 Hyundai Ioniq 6 Will Be a Slick-Looking EV Sedan Hyundai Kona Electric Genesis reveals their first EV on the E-GMP platform, the electric GV60 crossover Genesis Electrified GV70 Revealed With 483 Horsepower And AWD Kia Niro Electric: 239-mile range & $39,000 before subsidies Kia EV6: Charging towards the future Kia EV4 on course to grow electric SUV range Jaguar’s All-Electric i-Pace Jaguar to become all-electric brand; Land Rover to Get 6 electric models Daimler will invest more than $47B in EVs and be all-electric ready by 2030 Mercedes EQS: the first electric vehicle in the luxury class 2023 Mercedes-Benz EQS SUV Interior Unveiled With Up To Seven Seats Mercedes-Benz unveils EQE electric sedan with impressive 400-mile range Mercedes EQE SUV to rival BMW iX and Tesla Model X Mercedes EQC electric SUV available now in Europe & China Mercedes-Benz Launches the EQV, its First Fully-Electric Passenger Van Mercedes-Benz EQB Makes Its European Debut, US Sales Confirmed Mercedes-Benz unveils EQA electric SUV with 265 miles of range and ~$46,000 price Ford Mustang Mach-E Available Now Ford F-150 Lightning electric pick-up available 2022 Ford set to launch ‘mini Mustang Mach-E’ electric SUV in 2023 Ford to launch 7 EVs in Europe in big electric push Ford’s Lincoln brand to launch full slate of electric SUVs by 2026 Volvo Polestar 2 Polestar 3 will hit U.S. market in Q1 2023 Volvo XC40 Recharge Volvo C40 electric sedan to challenge Tesla Model 3, VW ID3 Polestar 3 will be an electric SUV that shares its all-new platform with next Volvo XC90 Chevrolet Bolt sedan, 259-mile range starting at $31,000 Chevrolet Bolt EUV electric crossover Cadillac All-Electric Lyriq Available Spring 2022 GMC 2022 ALL-ELECTRIC SUPERTRUCK HUMMER EV GM’s 2023 electric Silverado pickup truck GMC to launch electric Hummer SUV in 2023 GM announces electric versions of the 2023 Chevy Equinox & Blazer SUVs starting @ $30,000 GM Launches BrightDrop to Electrify the Delivery of Goods and Services BMW leads off EV offensive with iX3 BMW expands EV offerings with iX tech flagship and i4 sedan BMW i7 EV, with 600 hp, will be most powerful variant of new 7 Series flagship 2022 BMW iX1 electric SUV spied Renault-Nissan alliance plows $26B into EV blitz- will jointly launch 35 new EVs Nissan vows to hop back on EV podium with Ariya Nissan LEAF e+ with 226-mile range is available now Nissan Unveils $18 Billion Electric-Vehicle Strategy Renault upgrades Zoe electric car as competition intensifies Renault Dacia Spring Electric SUV Renault to boost low-volume Alpine brand with 3 EVs Renault's electric Megane will debut new digital cockpit Stellantis promises 'heart-of-the-market SUV' from new, 8-vehicle EV platform Chrysler to go all-EV by 2028 Alfa Romeo's First Electric Car Will Arrive in 2024 Peugeot e-208 PEUGEOT E-2008: THE ELECTRIC AND VERSATILE SUV Peugeot 308 will get full-electric version Subaru shows off its first electric vehicle, the Solterra SUV Citroen compact EV challenges VW ID3 on price Rivian R1T Is the Most Remarkable Pickup We’ve Ever Driven Maserati going fully electric by 2030 -all vehicles will offer a BEV version by 2025 Mini Cooper SE Electric Toyota’s Electric bZ4X Goes On Sale in Spring 2022 Toyota will have lineup of 30 full EVs by 2030; Lexus will be all-electric brand Honda and Sony to build, sell EVs by 2025 Opel sees electric Corsa as key EV entry 2021 Vauxhall Mokka revealed as EV with sharp looks, massive changes Skoda Enyaq iV electric SUV offers range of power, battery sizes Electric Skoda Enyaq coupe to muscle-in on Tesla Model 3 Skoda plans small EV, cheaper variants to take on French, Korean rivals Nio to launch in five more European countries after Norway BYD will launch electric SUV in Europe The Lucid Air Achieves an Estimated EPA Range of 517 Miles on a Single Charge Bentley will start output of first full EV in 2025 All-electric Rolls-Royce Spectre to launch in 2023 – firm to be EV-only by 2030 Aston Martin will build electric vehicles in UK from 2025 Meet the Canoo, a Subscription-Only EV Pod Coming in 2021 Two new electric cars from Mahindra in India; Global Tesla rival e-car soon Former Saab factory gets new life building solar-powered Sono Sion electric cars Foxconn aims for 10% of electric car platform market by 2025 And in China… How VW Group plans to dominate China's EV market VW Goes Head-to-Head With Tesla in China With New ID.4 Crozz Electric SUV Volkswagen’s ID.3 EV to be produced by JVs with SAIC, FAW in 2021 2022 VW ID.6 Revealed With Room For Seven And Two Electric Motors China-built Audi e-tron rolls off production line in Changchun Audi Q2L e-tron debuts at Auto Shanghai Audi will build Q4 e-tron in China Audi Q5 e-tron Confirmed For China Audi in cooperation company for local electric car production with FAW FAW Hongqi starts selling electric SUV with 400km range for $32,000 FAW (Hongqi) to roll out 15 electric models by 2025 BYD goes after market left open by Tesla with four cheaper models for budget-conscious buyers BYD said to launch premium NEV brand ‘Dolphin’ in 2022 Top of Form Bottom of Form Daimler & BYD launch DENZA electric vehicle for the Chinese market Geely announces premium EV brand Zeekr Geely, Mercedes-Benz launch $780 million JV to make electric smart-branded cars Mercedes styled Denza X 7-seat electric SUV to hit market Mercedes ‘makes mark’ with China-built EQC BMW, Great Wall to build new China plant for electric cars BAIC Goes Electric, & Establishes Itself as a Force in China’s New Energy Vehicle Future BAIC BJEV, Magna ready to pour RMB2 bln in all-electric PV manufacturing JV Toyota partners with BYD to build affordable $30,000 electric car Ford MUSTANG MACH-E ROLLS OFF ASSEMBLY LINE IN CHINA FOR LOCAL CUSTOMERS Lexus to launch EV in China taking on VW and Tesla GAC Aion about to start volume production of 1,000-km range AION LX GAC Toyota to ramp up annual capacity by 400,000 NEVs GAC kicks off delivery of HYCAN 007 all-electric SUV Nio – Ready For Tomorrow Nio steps up plans for mass-market brand to compete with VW, Toyota Xpeng Motors sells multiple EV models SAIC-GM to build Ultium EV platform in Wuhan Chevrolet Menlo Electric Vehicle Launched in China Buick Introduces New VELITE 6 EV with Extended Range Buick Velite 7 EV And Velite 6 PHEV Launch In China Dongfeng launches the all-electric Voyah  PSA to accelerate rollout of electrified vehicles in China SAIC, Alibaba-backed EV brand IM begins presale of first model L7 Hyundai Motor Transforming Chongqing Factory into Electric Vehicle Plant Polestar said to plan China showroom expansion to compete with Tesla Jaguar Land Rover's Chinese arm invests £800m in EV production Renault reveals series urban e-SUV K-ZE for China Renault & Brilliance detail electric van lineup for China Renault forms China electric vehicle venture with JMCG Honda plans China EV plant to expand lineup GAC Honda launches pure electric car brand ‘e:NP’ Geely launches new electric car brand 'Geometry' – will launch 10 EVs by 2025 Geely, Foxconn form partnership to build cars for other automakers Fiat Chrysler, Foxconn Team Up for Electric Vehicles Baidu to create an intelligent EV company with automaker Geely Leapmotor starts presale of C11 electric SUV on Jan. 1 2021 Changan forms subsidiary Avatar Technology to develop smart EVs with Huawei, CATL WM Motors/Weltmeister Chery Seres Enovate China's cute Ora R1 electric hatch offers a huge range for less than US$9,000 Singulato JAC Motors releases new product planning, including many NEVs Seat to make purely electric cars with JAC VW in China Iconiq Motors Hozon Aiways Skyworth Auto Youxia CHJ Automotive begins to accept orders of Leading Ideal ONE Infiniti to launch Chinese-built EV in 2022 Human Horizons Chinese smartphone giant Xiaomi to launch electric car business with $10 billion investment Lifan Technology to roll out three EV models with swappable batteries in 2021 Here’s Tesla’s competition in autonomous driving… Waymo ranked top & Tesla last in Guidehouse leaderboard on automated driving systems Tesla has a self-driving strategy other companies abandoned years ago Fiat Chrysler, Waymo expand self-driving partnership for passenger, delivery vehicles Waymo and Lyft partner to scale self-driving robotaxi service in Phoenix Jaguar and Waymo announce an electric, fully autonomous car Renault, Nissan partner with Waymo for self-driving vehicles Geely’s Zeekr, Waymo partner on autonomous ride-hailing vehicle for the U.S. market Volvo, Waymo partner to build self-driving vehicles Volvo Cars’ unsupervised autonomous driving feature Ride Pilot to debut in California Cruise and GM Team Up with Microsoft to Commercialize Self-Driving Vehicles Cadillac Super Cruise Sets the Standard for Hands-Free Highway Driving Honda Joins with Cruise and General Motors to Build New Autonomous Vehicle Honda launching Level 3 autonomous cars Volkswagen moves ahead with Autonomous Driving R&D for Mobility as a Service VW, Bosch partner to develop autonomous driving systems Volkswagen teams up with Microsoft to accelerate the development of automated driving VW taps Baidu's Apollo platform to develop self-driving cars in China Ford “Blue Cruise” ARGO AI AND FORD TO LAUNCH SELF-DRIVING VEHICLES ON LYFT NETWORK Hyundai and Kia Invest in Aurora Toyota, Denso form robotaxi partnership with Aurora Aptiv and Hyundai Motor Group complete formation of autonomous driving joint venture Amazon’s Zoox unveils electric robotaxi that can travel up to 75 mph Nvidia and Mercedes Team Up to Make Next-Gen Vehicles Daimler's heavy trucks start self-driving some of the way SoftBank, Toyota's self-driving car venture adds Mazda, Suzuki, Subaru Corp, Isuzu Daihatsu  Continental & NVIDIA Partner to Enable Production of Artificial Intelligence Self-Driving Cars Mobileye and Geely to Offer Most Robust Driver Assistance Features Mobileye Starts Testing Self-Driving Vehicles in Germany Mobileye and NIO Partner to Bring Level 4 Autonomous Vehicles to Consumers Lucid Chooses Mobileye as Partner for Autonomous Vehicle Technology Alibaba-backed AutoX unveils first driverless RoboTaxi production line in China Nissan gives Japan version of Infiniti Q50 hands-free highway driving Hyundai to start autonomous ride-sharing service in Calif. Pony.ai Receives Approval for Paid Autonomous Robotaxi Services in Beijing Baidu Apollo’s autonomous driving service is now inclusive to all the megacities in China Toyota to join Baidu's open-source self-driving platform Baidu, WM Motor announce strategic partnership for L3, L4 autonomous driving solutions Volvo will provide cars for Didi's self-driving test fleet BMW and Tencent to develop self-driving car technology together BMW, NavInfo bolster partnership in HD map service for autonomous cars in China GM Invests $300 M in Momenta to deliver self-driving technologies in China FAW Hongqi readies electric SUV offering Level 4 autonomous driving Tencent, Changan Auto Announce Autonomous-Vehicle Joint Venture Huawei teams up with BAIC BJEV, Changan, GAC to co-launch self-driving car brands GAC Aion, DiDi Autonomous Driving to co-develop driverless NEV model BYD partners with Huawei for autonomous driving Lyft, Magna in Deal to Develop Hardware, Software for Self-Driving Cars Xpeng releases autonomous features for highway driving Nuro Becomes First Driverless Car Delivery Service in California Deutsche Post to Deploy Test Fleet Of Fully Autonomous Delivery Trucks ZF autonomous EV venture names first customer Magna’s new MAX4 self-driving platform offers autonomy up to Level 4 Groupe PSA’s safe and intuitive autonomous car tested by the general public Mitsubishi Electric to Exhibit Autonomous-driving Technologies in New xAUTO Test Vehicle Apple acquires self-driving startup Drive.ai Motional to begin robotaxi testing with Hyundai Ioniq 5 in Los Angeles JD.com Delivers on Self-Driving Electric Trucks NAVYA Unveils First Fully Autonomous Taxi Fujitsu and HERE to partner on advanced mobility services and autonomous driving Great Wall’s autonomous driving arm Haomo.ai receives investment from Meituan Plus.ai, Iveco to start L4 autonomous heavy-duty truck test in Europe, China T3 Mobility, IDRIVERPLUS to pilot Robotaxi operation in Suzhou with autonomous+manual model Here’s where Tesla’s competition will get its battery cells… Panasonic (making deals with multiple automakers) LG Samsung SK Innovation Toshiba CATL BYD Volkswagen to Build Six Electric-Vehicle Battery Factories in Europe How GM's Ultium Battery Will Help It Commit to an Electric Future GM to develop lithium-metal batteries with SolidEnergy Systems Ford, SK Innovation announce EV battery joint venture BMW & Ford Invest in Solid Power to Secure All Solid-State Batteries for Future Electric Vehicles Stellantis affirms commitment to build battery factory in Italy with Mercedes, TotalEnergies Stellantis and LG to Invest Over $5 Billion CAD in Joint Venture for Li-Ion Battery Plant in Canada Stellantis and Factorial Energy to Jointly Develop Solid-State Batteries for Electric Vehicles Mercedes-Benz to build 8 battery factories in push to become electric-only automaker Toyota to build plant in N.C. capable of making up to 1.2M batteries a year Toyota Outlines Solid-State Battery Tech, $13.6 Billion Investment Nissan Announces Proprietary Solid-State Batteries Daimler joins Stellantis as partner in European battery cell venture ACC Renault signs EV battery deals with Envision, Verkor for French plants Nissan to build $1.4bn EV battery plant in UK with Chinese partner UK companies AMTE Power and Britishvolt plan $4.9 billion investment in battery plants Freyr Verkor Farasis Microvast Akasol Cenat Wanxiang Eve Energy Svolt Romeo Power ProLogium Hyundai Motor developing solid-state EV batteries Morrow Here’s Tesla’s competition in charging networks… Infrastructure Bill: $7.5 billion Towards Nationwide Network of 500,000 EV Chargers Electrify America EVgo Chargepoint Ionity Europe Shell Plans To Deploy Around 500,000 Charging Points Globally By 2025 51 U.S. electric companies commit to build nationwide EV fast charging network by end of 2023 GM to distribute up to 10 chargers to each of its dealerships starting early 2022 Circle K Owner Plans Electric-Car Charging Push in U.S., Canada 191 U.S. Porsche dealers are installing 350kw chargers ChargePoint to equip Daimler dealers with electric car chargers Ford introduces 12,000 station charging network, teams with Amazon on home installation Petro-Canada Introduces Coast-to-Coast Canadian Charging Network Volta is rolling out a free charging network E.ON and Virta launch one of the largest intelligent EV charging networks in Europe Volkswagen plans 36,000 charging points for electric cars throughout Europe Smatric has over 400 charging points in Austria Allego has hundreds of chargers in Europe PodPoint UK charging stations BP Will Invest £1 Billion In UK Charging Infrastructure Instavolt is rolling out a UK charging network Fastned building 150kw-350kw chargers in Europe Aral To Install Over 100 Ultra-Fast Chargers In Germany Deutsche Telekom launches installation of charging network for e-cars Total to build 1,000 high-powered charging points at 300 European service-stations NIO teams up with China’s State Grid to build battery charging, swapping stations BYD, Shell to build joint venture for EV charging network development in China Volkswagen-based CAMS launches supercharging stations in China Volkswagen, FAW Group, JAC Motors, Star Charge formally announce new EV charging JV BMW to Build 360,000 Charging Points in China to Juice Electric Car Sales BP, Didi Jump on Electric-Vehicle Charging Bandwagon Evie rolls out ultrafast charging network in Australia Evie Networks To Install 42 Ultra-Fast Charging Sites In Australia And here’s Tesla’s competition in storage batteries… Panasonic Samsung LG Energy Solutions BYD AES + Siemens (Fluence) GE Hitachi ABB Toshiba Saft Johnson Contols EnerSys SOLARWATT Sonnen Kyocera Generac Kokam Eaton Tesvolt Kreisel Leclanche Lockheed Martin Honeywell EOS Energy Storage ESS UET electrIQ Power Stem ENGIE Redflow Primus Power Simpliphi Power Invinity Murata Bluestorage Adara Blue Planet Aggreko Orison Moixa Powin Energy Nidec Powervault Kore Power Shanghai Electric LithiumWerks Natron Energy Energy Vault Ambri Voltstorage Cadenza Innovation Morrow Gridtential Villara Elestor Flexgen SolarEdge Q-Cells Huawei ADS-TEC Form Energy Enphase Sumitomo Electric Stryten Energy Freyr Growatt Polarium C4V Thanks, Mark Spiegel Updated on Apr 1, 2022, 11:00 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Stanphyl Capital’s commentary for the month ended December 31, 2021, discussing their short position in Tesla Inc (NASDAQ:TSLA). Q3 2021 hedge fund letters, conferences and more Tesla’s Absurd Diluted Market Cap We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which has a completely absurd diluted market cap of almost […] Stanphyl Capital’s commentary for the month ended December 31, 2021, discussing their short position in Tesla Inc (NASDAQ:TSLA). if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get Our Activist Investing Case Study! Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below! (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more Tesla's Absurd Diluted Market Cap We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which has a completely absurd diluted market cap of almost $1.2 trillion despite a steadily sliding share of the world’s EV market and a share of the overall auto market that’s only around 1.1% (yes, one POINT one percent). At some point when momentum-riding Tesla bulls (or, for that matter, bears) least expect it, TSLA will recouple with “reality,” and that’s why I continue to maintain a short position. So here’s “reality”… Tesla has no “moat” of any kind; i.e., nothing meaningfully proprietary in terms of electric car technology, while existing automakers—unlike Tesla­—have a decades-long “experience moat” of knowing how to mass-produce, distribute and service high-quality cars consistently and profitably. Excluding sunsetting emission credit sales Tesla is barely profitable. Growth in sequential unit demand for Tesla’s cars is at a crawl relative to expectations. Elon Musk is a pathological liar who under the terms of his SEC settlement cannot deny having committed securities fraud. Many Tesla bulls sincerely believe that ten years from now the company will be twice the size of Volkswagen or Toyota, thereby selling around 21 million cars a year (up from the current one million). To illustrate how utterly clueless this is, going from a million cars a year today to 21 million in ten years means Tesla would have to add a brand new 500,000 car/year factory with sold out production EVERY single quarter for ten years! To do this even in twenty years would require adding a new factory with sold out production every six months, at which point Tesla would then be approximately twice the size of Toyota (current market cap: $257 billion) or Volkswagen (current market cap: $130 billion), making a Tesla twenty times its current size worth perhaps $500 billion in twenty years. If you discount that $500 billion back by 15% a year (which is likely a much smaller return than any Tesla bull expects) for twenty years, you get a net present value for Tesla stock of approximately $30 a share, down over 97% from 2021’s closing price. That’s why when idiot Tesla bulls look at the company’s current large trailing percentage growth from its recent tiny base and extrapolate that into the future they’re being, well… idiot Tesla bulls! Q3 Deliveries In October Tesla reported Q3 deliveries of 241,000 cars, a 40,000-unit gain over Q2 that’s a rounding error for an auto company trading at even one-tenth of Tesla’s valuation. (For Q4 the gain is expected to be another 45-50,000.) If in any quarter GM or VW or Toyota sold 2.04 million vehicles instead of 2 million or 1.96 million, no one would pay the slightest bit of attention to the difference. Seeing as Tesla is now being valued at over fourteen GMs, it’s time (as noted above) to start looking at its relatively tiny numerical sequential sales growth, rather than Wall Street’s sell-side hype of “percentage off a small base.” In other words, if you want to be valued at a giant multiple of “the big boys,” you should be treated as a big boy. Perhaps the biggest reason Tesla has recently been able to post marginally increasing sequential quarterly deliveries is because competitors’ production (and thus inventories) are at the lowest level in decades due to the massive chip shortage, thereby eliminating a number of “Tesla alternatives.” Meanwhile, Tesla is enjoying record production because Musk (a notorious “corner-cutter”) is apparently willing to substitute untested, non-auto-grade chips for the more durable chips he can’t get; please see my Twitter post about this. A favorite hype story from Tesla bulls has been “the China market” and its “record” number of 73,659 Q3 deliveries there. Let’s put this in perspective: this was only around 4000 more cars than in Q1 and only around 11,000 more than in Q2—again, these are “growth” rounding errors. (Thanks to drastically slashed production from chip-starved competitors, look for around 30,000 more in Q4.) And that “record” Q3 China quarter gave it just 1.5% of the overall passenger vehicle market and just 11% of the BEV market, and it had so much excess capacity that it exported tens of thousands of cars to Europe. Remember when Musk claimed that Tesla’s Chinese domestic demand alone would need multiple factories to satisfy? Ah, the good old days! Meanwhile, Tesla remains a lousy business. In its Q3 earnings report the company claimed it made around $1.3 billion in free cash flow (defined as operating cash flow less capex). However, this number appears to be entirely due to working capital adjustments and not from the business itself. Let me explain: Tesla claimed operating cash flow of around $3.2 billion for the quarter, but this came with the benefit of accounts payable increasing by $702 million, receivables declining by $167 million and accrued liabilities up by $665 million while (detrimentally) prepaid expenses increased by $144 million. Adjusting for that massive net working capital benefit, operating cash flow was only a bit over $1.8 billion and with capex at $1.8 billion it means Tesla’s Q3 free cash flow was essentially zero, and if you deduct stock comp (a non-cash item paid through share dilution) it was around negative $500 million. Also in its Q3 report Tesla claimed it made around $1.45 billion in net income after excluding $279 million of pure-profit emission credit sales (excluded because they’ll almost entirely disappear some time next year when other automakers will have enough EVs of their own), and after adding back a $50 million Bitcoin write-down. However, that earnings number also includes what I estimate to be Tesla’s usual $300 million or so in unsustainably low warranty provisioning, and after adjusting for that and assuming no other fraudulent accounting, Tesla only earned around $1.06/share, which annualizes to $4.24. An auto industry PE multiple of 10x would thus make TSLA worth around $42/share (admittedly, more than the “$0” I once expected), while a “growth multiple” of 20x would value it at $84, which is a 92% discount to December’s closing price of around $1057. And before you tell me that a 100% premium to the industry’s PE ratio isn’t enough, keep in mind that—as noted earlier—Tesla’s sequential unit growth is an auto industry rounding error. In fact, one could argue that Tesla’s multiple should carry a discount, considering the massive legal and financial liabilities continually generated by its pathologically lying CEO. Full Self Driving Meanwhile Tesla continues to sell (and book cash flow, if not accounting revenue from) its fraudulent & dangerous so-called “Full Self Driving.” In a sane regulatory environment Tesla having done this for five years now… …would be considered “consumer fraud,” and indeed the regulatory tide may finally be turning, as in August two U.S. Senators demanded an FTC investigation and in October the NHTSA appointed a harsh critic of this deadly product to advise on its regulation. (For all known Tesla deaths see here.) Are major write-downs and refunds on the way, killing the company’s slight “claimed profitability”? Stay tuned! Meanwhile, Guidehouse Insights continues to rate Tesla dead last among autonomous competitors: Another favorite Tesla hype story has been built around so-called “proprietary battery technology.” In fact though, Tesla has nothing proprietary there—it doesn’t make them, it buys them from Panasonic, CATL and LG, and it’s the biggest liar in the industry regarding the real-world range of its cars. And if new-format 4680 cells enter the market some time in 2022 (as is now expected), even if Tesla makes some of its own, other manufacturers will gladly sell them to anyone. Tesla Build Quality Remains Awful Meanwhile, Tesla build quality remains awful (it ranks second-to-last in the latest Consumer Reports reliability survey and in the bottom 10% of the latest J.D. Power survey) and its worst-rated Model Y faces current (or imminent) competition from the much better built electric Audi Q4 e-tron, BMW iX3, Mercedes EQB, Volvo XC40 Recharge, Volkswagen ID.4, Ford Mustang Mach E, Nissan Ariya, Hyundai Ioniq 5 and Kia EV6. And Tesla’s Model 3 now has terrific direct “sedan competition” from Volvo’s beautiful Polestar 2, the great new BMW i4 and the premium version of Volkswagen’s ID.3 (in Europe), plus multiple local competitors in China. And in the high-end electric car segment worldwide the Audi e-tron (substantially improved for 2022!) and Porsche Taycan outsell the Models S & X (and the newly updated Tesla models with their dated exteriors and idiotic shifters & steering wheels won’t change this), while the spectacular new Mercedes EQS, Audi e-Tron GT and Lucid Air make the Tesla Model S look like a fast Yugo, while the extremely well reviewed new BMW iX does the same to the Model X. And oh, the joke of a “pickup truck” Tesla previewed in 2019 (and still hasn’t shown in production-ready form) won’t be much of “growth engine” either, as it will enter a dogfight of a market; in fact, Ford’s terrific 2022 all-electric F-150 Lightning now has nearly 200,000 retail reservations (plus many more fleet reservations), Rivian’s pick-up has gotten fantastic early reviews, and in January GM will introduce its electric Silverado. Regarding safety, as noted earlier in this letter, Tesla continues to deceptively sell its hugely dangerous so-called “Autopilot” system, which Consumer Reports has completely eviscerated; God only knows how many more people this monstrosity unleashed on public roads will kill despite the NTSB condemning it. Elsewhere in safety, in 2020 the Chinese government forced the recall of tens of thousands of Teslas for a dangerous suspension defect the company spent years trying to cover up, and now Tesla has been hit by a class-action lawsuit in the U.S. for the same defect. Tesla also knowingly sold cars that it knew were a fire hazard and did the same with solar systems, and after initially refusing to do so voluntarily, it was forced to recall a dangerously defective touchscreen. In other words, when it comes to the safety of customers and innocent bystanders, Tesla is truly one of the most vile companies on Earth. Meanwhile the massive number of lawsuits of all types against the company continues to escalate. So Here Is Tesla's Competition In Cars (Note: These Links Are Regularly Updated)... Porsche Taycan Porsche Taycan Cross Turismo Porsche Macan Electric SUV Officially Coming in 2023 Volkswagen ID.3 Headlines VW's Electrified Future Volkswagen ID.4 Electric SUV Volkswagen ID.Buzz electric van teased ahead of 2022 launch Volkswagen ID 6 to arrive with 435-mile range in 2023 Volkswagen Aero B: new electric Passat equivalent spied VW’s Cupra brand counts on performance for Born EV Cupra, VW brand to get entry-level battery-powered cars Audi e-tron Audi e-tron Sportback Audi E-tron GT Audi Q4 e-tron Audi Q6 e-tron confirmed for 2022 launch Audi previews long-range A6 e-tron EV Audi TT set to morph into all-electric crossover Hyundai Ioniq 5 Hyundai Ioniq 6 spotted ahead of 2022 launch Hyundai Kona Electric Genesis reveals their first EV on the E-GMP platform, the electric GV60 crossover Genesis Electrified GV70 Revealed With 483 Horsepower And AWD Kia Niro Electric: 239-mile range & $39,000 before subsidies Kia EV6: Charging towards the future Kia EV4 on course to grow electric SUV range Jaguar’s All-Electric i-Pace Jaguar to become all-electric brand; Land Rover to Get 6 electric models Daimler will invest more than $47B in EVs and be all-electric ready by 2030 Mercedes EQS: the first electric vehicle in the luxury class Mercedes EQS SUV takes shape Mercedes-Benz unveils EQE electric sedan with impressive 400-mile range Mercedes EQE SUV to rival BMW iX and Tesla Model X Mercedes EQC electric SUV available now in Europe & China Mercedes-Benz Launches the EQV, its First Fully-Electric Passenger Van Mercedes-Benz EQB Makes Its European Debut, US Sales Confirmed Mercedes-Benz unveils EQA electric SUV with 265 miles of range and ~$46,000 price Ford Mustang Mach-E Available Now Ford F-150 Lightning electric pick-up available 2022 Ford set to launch ‘mini Mustang Mach-E’ electric SUV in 2023 Ford to offer EV versions of Explorer, Aviator, ‘rugged SUVs' Volvo Polestar 2 Polestar 3 SUV Production Design Revealed. The US-built electric SUV will debut in 2022. Volvo XC40 Recharge Volvo C40 electric sedan to challenge Tesla Model 3, VW ID3 Polestar 3 will be an electric SUV that shares its all-new platform with next Volvo XC90 Chevy updates, expands Bolt EV family as price drops Cadillac All-Electric Lyriq Available Spring 2022 GMC ALL-ELECTRIC SUPERTRUCK HUMMER EV GM to build electric Silverado in Detroit with estimated range of more than 400 miles GMC to launch electric Hummer SUV in 2023 GM will offer 30 all-electric models globally by 2025 GM Launches BrightDrop to Electrify the Delivery of Goods and Services Nissan vows to hop back on EV podium with Ariya Nissan LEAF e+ with 226-mile range is available now Nissan Unveils $18 Billion Electric-Vehicle Strategy BMW leads off EV offensive with iX3 BMW expands EV offerings with iX tech flagship and i4 sedan BMW i7 Confirmed for 2022 Launch 2022 BMW iX1 electric SUV spied Rivian R1T Is the Most Remarkable Pickup We’ve Ever Driven Renault upgrades Zoe electric car as competition intensifies Renault Dacia Spring Electric SUV Renault to boost low-volume Alpine brand with 3 EVs Renault's electric Megane will debut new digital cockpit Stellantis promises 'heart-of-the-market SUV' from new, 8-vehicle EV platform Alfa Romeo is latest Stellantis brand to get all-electric future Peugeot e-208 PEUGEOT E-2008: THE ELECTRIC AND VERSATILE SUV Peugeot 308 will get full-electric version Subaru shows off its first electric vehicle, the Solterra SUV Citroen compact EV challenges VW ID3 on price Maserati to launch electric sports car Mini Cooper SE Electric Toyota’s Electric bZ4X Goes On Sale in Spring 2022 Toyota will have lineup of 30 full EVs by 2030; Lexus will be all-electric brand Opel sees electric Corsa as key EV entry 2021 Vauxhall Mokka revealed as EV with sharp looks, massive changes Skoda Enyaq iV electric SUV offers range of power, battery sizes Electric Skoda Enyaq coupe to muscle-in on Tesla Model 3 Skoda plans small EV, cheaper variants to take on French, Korean rivals Nio to launch in five more European countries after Norway BYD will launch electric SUV in Europe The Lucid Air Achieves an Estimated EPA Range of 517 Miles on a Single Charge Bentley converting to electric-only brand All-electric Rolls-Royce Spectre to launch in 2023 – firm to be EV-only by 2030 Aston Martin will build electric vehicles in UK from 2025 Meet the Canoo, a Subscription-Only EV Pod Coming in 2021 Two new electric cars from Mahindra in India; Global Tesla rival e-car soon Former Saab factory gets new life building solar-powered Sono Sion electric cars Foxconn aims for 10% of electric car platform market by 2025 And In China... How VW Group plans to dominate China's EV market VW Goes Head-to-Head With Tesla in China With New ID.4 Crozz Electric SUV Volkswagen’s ID.3 EV to be produced by JVs with SAIC, FAW in 2021 2022 VW ID.6 Revealed With Room For Seven And Two Electric Motors China-built Audi e-tron rolls off production line in Changchun Audi Q2L e-tron debuts at Auto Shanghai Audi will build Q4 e-tron in China Audi Q5 e-tron Confirmed For China Audi in cooperation company for local electric car production with FAW FAW Hongqi starts selling electric SUV with 400km range for $32,000 FAW (Hongqi) to roll out 15 electric models by 2025 BYD goes after market left open by Tesla with four cheaper models for budget-conscious buyers BYD said to launch premium NEV brand ‘Dolphin’ in 2022 Top of Form Bottom of Form Daimler & BYD launch DENZA electric vehicle for the Chinese market Geely announces premium EV brand Zeekr Geely, Mercedes-Benz launch $780 million JV to make electric smart-branded cars Mercedes styled Denza X 7-seat electric SUV to hit market Mercedes ‘makes mark’ with China-built EQC BMW, Great Wall to build new China plant for electric cars BAIC Goes Electric, & Establishes Itself as a Force in China’s New Energy Vehicle Future BAIC BJEV, Magna ready to pour RMB2 bln in all-electric PV manufacturing JV Toyota partners with BYD to build affordable $30,000 electric car Ford MUSTANG MACH-E ROLLS OFF ASSEMBLY LINE IN CHINA FOR LOCAL CUSTOMERS Lexus to launch EV in China taking on VW and Tesla GAC Aion about to start volume production of 1,000-km range AION LX GAC Toyota to ramp up annual capacity by 400,000 NEVs GAC kicks off delivery of HYCAN 007 all-electric SUV Nio – Ready For Tomorrow Nio steps up plans for mass-market brand to compete with VW, Toyota Xpeng Motors sells multiple EV models SAIC-GM to build Ultium EV platform in Wuhan Chevrolet Menlo Electric Vehicle Launched in China Buick Introduces New VELITE 6 EV with Extended Range Buick Velite 7 EV And Velite 6 PHEV Launch In China Dongfeng launches the all-electric Voyah  PSA to accelerate rollout of electrified vehicles in China SAIC, Alibaba-backed EV brand IM begins presale of first model L7 Hyundai Motor Transforming Chongqing Factory into Electric Vehicle Plant Polestar said to plan China showroom expansion to compete with Tesla Jaguar Land Rover's Chinese arm invests £800m in EV production Renault reveals series urban e-SUV K-ZE for China Renault & Brilliance detail electric van lineup for China Renault forms China electric vehicle venture with JMCG Honda to start sales of new EV-branded vehicles in China in 2022 Geely launches new electric car brand 'Geometry' – will launch 10 EVs by 2025 Geely, Foxconn form partnership to build cars for other automakers Fiat Chrysler, Foxconn Team Up for Electric Vehicles Baidu to create an intelligent EV company with automaker Geely Leapmotor starts presale of C11 electric SUV on Jan. 1 2021 Changan forms subsidiary Avatar Technology to develop smart EVs with Huawei, CATL WM Motors/Weltmeister Chery Seres Enovate China's cute Ora R1 electric hatch offers a huge range for less than US$9,000 Singulato JAC Motors releases new product planning, including many NEVs Seat to make purely electric cars with JAC VW in China Iconiq Motors Hozon Aiways Skyworth Auto Youxia CHJ Automotive begins to accept orders of Leading Ideal ONE Infiniti to launch Chinese-built EV in 2022 Human Horizons Chinese smartphone giant Xiaomi to launch electric car business with $10 billion investment Lifan Technology to roll out three EV models with swappable batteries in 2021 Here’s Tesla’s Competition In Autonomous Driving... Waymo ranked top & Tesla last in Guidehouse leaderboard on automated driving systems Tesla has a self-driving strategy other companies abandoned years ago Fiat Chrysler, Waymo expand self-driving partnership for passenger, delivery vehicles Waymo and Lyft partner to scale self-driving robotaxi service in Phoenix Volvo, Waymo partner to build self-driving vehicles Jaguar and Waymo announce an electric, fully autonomous car Renault, Nissan partner with Waymo for self-driving vehicles Geely’s Zeekr, Waymo partner on autonomous ride-hailing vehicle for the U.S. market Cruise and GM Team Up with Microsoft to Commercialize Self-Driving Vehicles Cadillac Super Cruise Sets the Standard for Hands-Free Highway Driving Honda Joins with Cruise and General Motors to Build New Autonomous Vehicle Honda launching Level 3 autonomous cars Volkswagen moves ahead with Autonomous Driving R&D for Mobility as a Service Volkswagen teams up with Microsoft to accelerate the development of automated driving VW taps Baidu's Apollo platform to develop self-driving cars in China Ford “Blue Cruise” ARGO AI AND FORD TO LAUNCH SELF-DRIVING VEHICLES ON LYFT NETWORK Hyundai and Kia Invest in Aurora Toyota, Denso form robotaxi partnership with Aurora Aptiv and Hyundai Motor Group complete formation of autonomous driving joint venture Amazon’s Zoox unveils electric robotaxi that can travel up to 75 mph Nvidia and Mercedes Team Up to Make Next-Gen Vehicles Daimler's heavy trucks start self-driving some of the way SoftBank, Toyota's self-driving car venture adds Mazda, Suzuki, Subaru Corp, Isuzu Daihatsu  Continental & NVIDIA Partner to Enable Production of Artificial Intelligence Self-Driving Cars Mobileye and Geely to Offer Most Robust Driver Assistance Features Mobileye Starts Testing Self-Driving Vehicles in Germany Mobileye and NIO Partner to Bring Level 4 Autonomous Vehicles to Consumers Lucid Chooses Mobileye as Partner for Autonomous Vehicle Technology Alibaba-backed AutoX unveils first driverless RoboTaxi production line in China Nissan gives Japan version of Infiniti Q50 hands-free highway driving Hyundai to start autonomous ride-sharing service in Calif. Pony.ai Receives Approval for Paid Autonomous Robotaxi Services in Beijing Baidu kicks off its robotaxi business, after getting the OK to charge fees in Beijing Toyota to join Baidu's open-source self-driving platform Baidu, WM Motor announce strategic partnership for L3, L4 autonomous driving solutions Volvo will provide cars for Didi's self-driving test fleet BMW and Tencent to develop self-driving car technology together BMW, NavInfo bolster partnership in HD map service for autonomous cars in China GM Invests $300 M in Momenta to deliver self-driving technologies in China FAW Hongqi readies electric SUV offering Level 4 autonomous driving Tencent, Changan Auto Announce Autonomous-Vehicle Joint Venture Huawei teams up with BAIC BJEV, Changan, GAC to co-launch self-driving car brands GAC Aion, DiDi Autonomous Driving to co-develop driverless NEV model BYD partners with Huawei for autonomous driving Lyft, Magna in Deal to Develop Hardware, Software for Self-Driving Cars Xpeng releases autonomous features for highway driving Nuro Becomes First Driverless Car Delivery Service in California Deutsche Post to Deploy Test Fleet Of Fully Autonomous Delivery Trucks ZF autonomous EV venture names first customer Magna’s new MAX4 self-driving platform offers autonomy up to Level 4 Groupe PSA’s safe and intuitive autonomous car tested by the general public Mitsubishi Electric to Exhibit Autonomous-driving Technologies in New xAUTO Test Vehicle Apple acquires self-driving startup Drive.ai Motional to begin robotaxi testing with Hyundai Ioniq 5 in Los Angeles JD.com Delivers on Self-Driving Electric Trucks NAVYA Unveils First Fully Autonomous Taxi Fujitsu and HERE to partner on advanced mobility services and autonomous driving Great Wall’s autonomous driving arm Haomo.ai receives investment from Meituan Plus.ai, Iveco to start L4 autonomous heavy-duty truck test in Europe, China T3 Mobility, IDRIVERPLUS to pilot Robotaxi operation in Suzhou with autonomous+manual model Here’s Where Tesla’s Competition Will Get Its Battery Cells... Panasonic (making deals with multiple automakers) LG Samsung SK Innovation Toshiba CATL BYD Volkswagen to Build Six Electric-Vehicle Battery Factories in Europe How GM's Ultium Battery Will Help It Commit to an Electric Future GM to develop lithium-metal batteries with SolidEnergy Systems Ford, SK Innovation announce EV battery joint venture BMW & Ford Invest in Solid Power to Secure All Solid-State Batteries for Future Electric Vehicles Stellantis, LG Energy Solution to form battery JV for N. American market Stellantis and Factorial Energy to Jointly Develop Solid-State Batteries for Electric Vehicles Toyota to build plant in N.C. capable of making up to 1.2M batteries a year Toyota Outlines Solid-State Battery Tech, $13.6 Billion Investment Nissan Announces Proprietary Solid-State Batteries Daimler joins Stellantis as partner in European battery cell venture ACC Renault signs EV battery deals with Envision, Verkor for French plants Nissan to build $1.4bn EV battery plant in UK with Chinese partner UK companies AMTE Power and Britishvolt plan $4.9 billion investment in battery plants Freyr Verkor Farasis Microvast Akasol Cenat Wanxiang Eve Energy Svolt Romeo Power ProLogium Hyundai Motor developing solid-state EV batteries Daimler Morrow Here’s Tesla’s Competition In Charging Networks... Infrastructure Bill: $7.5 billion Towards Nationwide Network of 500,000 EV Chargers Electrify America is spending $2 billion building a high-speed U.S. charging network 51 U.S. electric companies commit to build nationwide EV fast charging network by end of 2023 GM to distribute up to 10 chargers to each of its dealerships starting early 2022 General Motors and EVgo Boost Build Plan for High Power Fast Chargers Across the US Circle K Owner Plans Electric-Car Charging Push in U.S., Canada 191 U.S. Porsche dealers are installing 350kw chargers ChargePoint to equip Daimler dealers with electric car chargers GM and Bechtel plan to build thousands of electric car charging stations across the US Ford introduces 12,000 station charging network, teams with Amazon on home installation Shell Plans To Deploy Around 500,000 Charging Points Globally By 2025 Petro-Canada Introduces Coast-to-Coast Canadian Charging Network Volta is rolling out a free charging network Ionity Europe E.ON and Virta launch one of the largest intelligent EV charging networks in Europe Volkswagen plans 36,000 charging points for electric cars throughout Europe Smatric has over 400 charging points in Austria Allego has hundreds of chargers in Europe PodPoint UK charging stations BP Chargemaster/Polar is building stations across the UK Instavolt is rolling out a UK charging network Fastned building 150kw-350kw chargers in Europe Aral To Install Over 100 Ultra-Fast Chargers In Germany Deutsche Telekom launches installation of charging network for e-cars Total to build 1,000 high-powered charging points at 300 European service-stations NIO teams up with China’s State Grid to build battery charging, swapping stations Volkswagen-based CAMS launches supercharging stations in China Volkswagen, FAW Group, JAC Motors, Star Charge formally announce new EV charging JV BMW to Build 360,000 Charging Points in China to Juice Electric Car Sales BP, Didi Jump on Electric-Vehicle Charging Bandwagon Evie rolls out ultrafast charging network in Australia Evie Networks To Install 42 Ultra-Fast Charging Sites In Australia And Here’s Tesla’s Competition In Storage Batteries... Panasonic Samsung LG BYD AES + Siemens (Fluence) GE Bosch Hitachi ABB Toshiba Saft Johnson Contols EnerSys SOLARWATT Schneider Electric Sonnen Kyocera Generac Kokam NantEnergy Eaton Nissan Tesvolt Kreisel Leclanche Lockheed Martin EOS Energy Storage ESS UET electrIQ Power Belectric Stem ENGIE Redflow Renault Primus Power Simpliphi Power redT Energy Storage Murata Bluestorage Adara Blue Planet Tabuchi Electric Aggreko Orison Moixa Powin Energy Nidec Powervault Kore Power Shanghai Electric Schmid 24M Ecoult Innolith LithiumWerks Natron Energy Energy Vault Ambri Voltstorage Cadenza Innovation Morrow Gridtential Villara Elestor Thanks and Happy New Year, Mark Spiegel Updated on Jan 3, 2022, 11:25 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Escobar: Fauci As Darth Vader Of The COVID Wars Authored by Pepe Escobar via The Asia Times, Robert F Kennedy Jr’s The Real Anthony Fauci: Bill Gates, Big Pharma and the Global War on Democracy and Public Health should be front-page news in all the news media in the US. Instead, it has been met with the proverbial thundering silence. Critics seeking to have Kennedy dismissed as a kook trading on a famous name had scored a hit in February, when Instagram permanently deleted his account, allegedly for making false claims about coronavirus and vaccines. Nevertheless, the book, published only a few days ago, is already a certified pop hit on Amazon. RFK Jr., chairman of the board of and chief legal counsel for Children’s Health Defense, sets out to deconstruct a New Normal, encroaching upon all of us since early 2020. In my early 2021 book Raging Twenties I have termed this force techno-feudalism. Kennedy describes it as “rising totalitarianism,” complete with “mass propaganda and censorship, the orchestrated promotion of terror, the manipulation of science, the suppression of debate, the vilification of dissent and use of force to prevent protest.” Focusing on Dr Anthony Fauci as the fulcrum of the biggest story of the 21st century allows RFK Jr to paint a complex canvas of planned militarization and, especially, monetization of medicine, a toxic process managed by Big Pharma, Big Tech and the military/intel complex – and dutifully promoted by mainstream media. By now everyone knows that the big winners have been Big Finance, Big Pharma, Big Tech and Big Data, with a special niche for Silicon Valley behemoths. Why Fauci? RFK Jr. argues that for five decades, he has been essentially a Big Pharma agent, nurturing “a complex web of financial entanglements among pharmaceutical companies and the National Institute of Allergy and Infectious Diseases (NIAID) and its employees that has transformed NIAID into a seamless subsidiary of the pharmaceutical industry. Fauci unabashedly promotes his sweetheart relationship with Pharma as a ‘public-private partnership.’” Arguably the full contours of this very convoluted story have never before been examined along these lines, extensively documented and with a wealth of links. Fauci may not be a household name outside of the US and especially across the Global South. And yet it’s this global audience that should be particularly interested in his story. RFK Jr accuses Fauci of having pursued nefarious strategies since the onset of Covid-19 – from falsifying science to suppressing and sabotaging competitive products that bring lower profit margins. Kennedy’s verdict is stark: “Tony Fauci does not do public health; he is a businessman, who has used his office to enrich his pharmaceutical partners and expand the reach of influence that has made him the most powerful – and despotic – doctor in human history.” This is a very serious accusation. It’s up to readers to examine the facts of the case and decide whether Fauci is some kind of medical Dr Strangelove. No Vitamin D? Pride of place goes to the Fauci-privileged modeling that overestimated Covid deaths by 525%, cooked up by fabricator Neil Ferguson of the Imperial College in London, duly funded by the Bill and Melinda Gates Foundation. This is the model, later debunked, that justified lockdown hysteria all across the planet. Kennedy attributes to Canadian vaccine researcher Dr Jessica Rose the charge that Fauci was at the frontline of erasing the notion of natural immunity even as throughout 2020 the CDC and the World Health Organization (WHO) admitted that people with healthy immune systems bear minimal risk of dying from Covid. Dr Pierre Kory, president of Front Line Covid-19 Critical Care Alliance, was among those who denounced Fauci’s modus operandi of privileging the development of tech vaccines while allowing no space for repurposed medications effective against Covid: “It is absolutely shocking that he recommended no outpatient care, not even Vitamin D.” Clinical cardiologist Peter McCullough and his team of frontline doctors tested prophylactic protocols using, for instance, ivermectin – “we had terrific data from medical teams in Bangladesh” – and added other medications such as azithromycin, zinc, Vitamin D and IV Vitamin C. And all this while across Asia there was widespread use of saline nasal lavages. By July 1, 2020, McCullough and his team submitted their first, ground-breaking protocol to the American Journal of Medicine. It became the most-downloaded paper in the world helping doctors to treat Covid-19. McCullough complained last year that Fauci has never, to date, published anything on how to treat a Covid patient.” He additionally alleged: “Anyone who tries to publish a new treatment protocol will find themselves airtight blocked by the journals that are all under Fauci’s control.” It got much worse. McCullough: “The whole medical establishment was trying to shut down early treatment and silence all the doctors who talked about success. A whole generation of doctors just stopped practicing medicine.” (A contrarian view would argue that McCullough got carried away: A million US doctors – the approximate number practicing at any given time – could not all have been in on it.) The book argues that the reasons there was a lack of original research on how to fight Covid were the dependence of much-vaunted American academics on the billions of dollars granted by the National Institute of Health (NIH) and the fact they were terrified of contradicting Fauci. Frontline Covid specialists Kory and McCullough are quoted as charging that Fauci’s suppression of early treatment and off-patent medication was responsible for up to 80% of deaths attributed to Covid in the US. How to kill the competition The book offers a detailed outline of an alleged offensive by Big Pharma to kill hydroxychloroquine (HCQ) – with research mercenaries funded by the Gates-Fauci axis allegedly misinterpreting and misreporting negative results by employing faulty protocols. Kennedy says that Bill Gates by 2020 virtually controlled the whole WHO apparatus, as the largest funder after the US government (before Trump pulled the US out of the WHO) and used the agency to fully discredit HCQ. The book also addresses Lancetgate – when the world’s top two scientific journals, The Lancet and the New England Journal of Medicine published fraudulent studies from a nonexistent database owned by a previously unknown company. Only a few weeks later both journals – deeply embarrassed and with their hard-earned credibility challenged – withdrew the studies. There was never any explanation as to why they got involved in what could be interpreted as one of the most serious frauds in the history of scientific publishing. But it all served a purpose. For Big Pharma, says Kennedy, killing HCQ and, later, Ivermectin (IVM) were top priorities. Ivermectin happens to be a low-profit competitor to a Merck product, molnupiravir, which is essentially a copycat but capable of retailing at a profitable $700 per course. Fauci was quite excited by a promising study of Gilead’s remdesivir – which not only is not effective against Covid but is a de facto deadly poison, at $3,000 for each treatment. The book suggests that Fauci might have wanted to kill HCQ and IVM because under federal US rules, the FDA’s recognition of both HCQ and IVM would automatically kill remdesivir. The Bill and Melinda Gates Foundation happens to have a large equity stake in Gilead. A key point for Kennedy is that vaccines were Big Pharma’s Holy Grail. He details how what could be construed as a Fauci-Gates alliance put “billions of taxpayer and tax-deducted dollars into developing” an mRNA “platform for vaccines that, in theory, would allow them to quickly produce new ‘boosters’ to combat each ‘escape variant.'” Vaccines, he writes, “are one of the rare commercial products that multiply profits by failing.… The good news for Pharma was that all of humanity would be permanently dependent on biannual or even triannual booster shots.” Any similarities with our current “booster” reality are not mere coincidence. The final summary of Pfizer’s clinical trial data will raise countless eyebrows. The whole process lasted a mere six months. This is the document that Pfizer submitted to the FDA to win approval for its vaccine. It beggars belief that Pfizer won the FDA’s emergency approval despite showing that the vaccine might prevent one (italics mine) Covid death in every 22,000 vaccine recipients. Peter McCullough: “Because the clinical trial showed that vaccines reduce absolute risk less than 1 percent, those vaccines can’t possibly influence epidemic curves. It’s mathematically impossible.” The Gates matrix Bill Gates – Teflon-protected by virtually all Western mainstream media – describes the operational philosophy of his foundation as “philantrocapitalism.” It’s more like strategic self-philantropy, as both the foundation’s capital and his net worth have been ballooning in style ($23 billion just during the 2020 lockdowns). The Bill and Melinda Gates Foundation – “a nonprofit fighting poverty, disease and inequity around the world” – invests in multinational pharma, food, agriculture, energy, telecom and global tech companies. It exercises considerable de facto control over international health and agricultural agencies as well as mainstream media – as the Columbia Journalism Review showed in August 2020. Gates, without a graduate degree, not to mention medical school degree (like author Kennedy, it must be noted, whose training was as a lawyer), dispenses wisdom around the world as a health expert. The foundation holds corporate stocks and bonds in Pfizer, Merck, GSK, Novartis and Sanofi, among other giants, and substantial positions in Gilead, AstraZeneca and Moderna. The book delves in minute detail into how Gates controls the WHO (the largest direct donor: $604.2 million in 2018-2019, the latest available numbers). Already in 2011 Gates ordered: “All 183 member states, you must make vaccines a central focus of your health systems.” The next year, the World Health Assembly, which sets the WHO agenda, adopted a Global Vaccine Plan designed by – who else? – the Bill and Melinda Gates Foundation. The Foundation also controls the Strategic Advisory Group of Experts (SAGE), the top advisory group to the WHO on vaccines, as well as the crucial GAVI Alliance (formerly the Global Alliance for Vaccines and Immunization), which is the second-largest donor to the WHO. GAVI is a Gates “public-private partnership” that essentially corrals bulk sales of vaccines from Big Pharma to poor nations. British Prime Minister Boris Johnson, only three month ago, proclaimed that “GAVI is the new NATO”. GAVI’s global HQ is in Geneva. Switzerland has given Gates full diplomatic immunity. Few in East and West know that it was Gates who in 2017 handpicked the WHO’s director general Tedros Adhanom Ghebreyesus – who brought no medical degree and a quite dodgy background. Dr Vandana Shiva, India’s leading human rights activist (routinely accused of being merely anti-vax), sums up: “Gates has hijacked the WHO and transformed it into an instrument of personal power that he wields for the cynical purpose of increasing pharmaceutical profits. He has single-handedly destroyed the infrastructure of public health globally. He has privatized our health systems and our food systems to serve his own purposes.” Gaming pandemics The book’s Chapter 12, Germ Games, may be arguably its most explosive, as it focuses on the US bioweapons and biosecurity apparatus, with a special mention to Robert Kadlec, who might claim leadership of the – contagious – logic according to which infectious disease poses a national security threat to the US, thus requiring a militarized response. The book argues that Kadlec, closely linked to spy agencies, Big Pharma, the Pentagon and assorted military contractors, is also linked to Fauci investments in “gain of function” experiments capable of engineering pandemic superbugs. Fauci strongly denies he’s promoted such experiments. Already in 1998 Kadlec had written an internal strategy paper for the Pentagon – though not for Fauci – promoting the role of pandemic pathogens as stealth weapons leaving no fingerprints. Since 2005 DARPA, which invented the internet by building the ARPANET in 1969, has funded biological weapons research. DARPA – call it the Pentagon’s angel investor – also developed the GPS, stealth bombers, weather satellites, pilotless drones, and that prodigy of combat, the M16 rifle. It’s important to remember that in 2017 DARPA funneled $6.5 million through Peter Daszak’s EcoHealth Alliance to fund “gain of function” work at the Wuhan lab, on top of gain of function experiments at Fort Detrick. EcoHealth Alliance was the organization through which Kadlec, Fauci and DARPA financed these gain of function experiments. DARPA also developed the GPS, stealth bombers, weather satellites, pilotless drones, and that prodigy of combat, the M16 rifle. In 2017 DARPA funneled $6.5 million through Peter Daszak’s EcoHealth Alliance to fund “gain of function” work at the Wuhan lab, on top of gain of function experiments at Fort Detrick. EcoHealth Alliance was the organization through which Kadlec, Fauci and DARPA financed these gain of function experiments, Few people know that DARPA also financed the key tech for the Moderna vaccine, starting way back in 2013. RFK Jr dutifully connects the Germ Games progress, starting with Dark Winter in 2001, which emphasized the Pentagon’s drive towards bioweapon vaccines (the code name was coined by Kadlec); the anthrax attack three weeks after 9/11; Atlantic Storm in 2003 and 2005, focused on the response to a terrorist attack unleashing smallpox; Global Mercury 2003; and Lockstep in 2010, which developed a scenario funded by the Rockefeller Foundation where we find this pearl: During the pandemic, national leaders around the world flexed their authority and imposed airtight rules and restrictions, from the mandatory wearing of face masks to body-temperature checks at the entries to communal spaces like train stations and supermarkets. Even after the pandemic faded, this more authoritarian control and oversight of citizens and their activities stuck and even intensified. In order to protect themselves from the spread of increasingly global problems – from pandemics and transnational terrorism to environmental crises and rising poverty – leaders around the world took a firmer grip on power. RFK Jr paints a picture in which, by mid-2017, the Rockefeller Foundation and US intel agencies had all but crowned Bill Gates as the top financier for the intel/military pandemic simulation business. Enter the MARS (Mountain Associated Respiratory Virus) simulation during the G20 in Germany in 2017. MARS was about a novel respiratory virus that spread out of busy markets in a mountainous border of an unnamed nation that looked very much like China. It gets curiouser and curiouser when one learns that MARS’s two moderators were very close to the Bill and Melinda Gates Foundation, and one of them, David Heymann, sat with the Moderna CEO on the Merieux Foundation USA Board. BioMerieux happens to be the French company that built the Wuhan lab. Big Pharma kisses Western intel Afterward came SPARS 2017 at the Johns Hopkins Center for Health Security. The Bill and Melinda Gates Foundation happen to be major funders of the Johns Hopkins Bloomberg School of Public Health. SPARS 2017 gamed a coronavirus pandemic running from 2025 to 2028. As RFK Jr. notes, “the exercise turned out to be an eerily precise predictor of the Covid-19 pandemic.” By 2018 bioweapons expert Peter Daszak was enthroned as the key connector through whom Fauci, Kadlec, DARPA and USAID – which used to be a CIA cover and now reports to the National Security Council – moved grants to fund gain-of-function research, including at the Wuhan Institute of Virology Biosafety Lab. Crimson Contagion, overseen by Kadlec after eight months of planning, came in August 2019. Fauci was on board the self-described “functional exercise,” representing the NIH, alongside the CDC’s Robert Redfield and several members of the National Security Council. The war game was held in secret, nationwide. The After-Action Crimson Contagion Report only came out via a FOIA request. The star of the Gates pandemic show was undoubtedly Event 201 in October 2019, held only 3 weeks before US intel may – or may not – have suspected that Covid-19 was circulating in Wuhan. Event 201 was about a global coronavirus pandemic. RFK Jr. persuasively argues that Event 201 was as close as possible to a “real-time” simulation. The book’s Germ Games chapter leads the reader to acknowledge what mainstream media have simply refused to report: how the pervasive involvement of US (and UK) intel has a secretive – yet dominating – presence in the whole response to Covid-19. A very good example is the Wellcome Trust – the UK version of the Bill and Melinda Gates Foundation – which is a spin-off of Big Pharma’s GlaxoSmith Kline. This epitomizes the marriage between Big Pharma and Western intel. The Wellcome Trust chair, from 2015 to 2020, used to be a former director general of MI5, Dame Eliza Manningham-Buller. She was also chair of the Imperial College since 2001. The “English Dr. Fauci,” Neil Ferguson, of the infamous, deadly wrong models that led to all lockdowns, was an epidemiologist working for the Wellcome Trust. These are only a few of the insights and connections woven through RFK Jr’s book. As a matter of public service, the whole lot should be available for popular scrutiny worldwide. These matters concern the whole planet, especially the Global South. Nobel laureate Luc Montaigner has noted how, “tragically for humanity, there are many, many untruths emanating from Fauci and his minions.” Even more tragic is what emanates from his masters. Tyler Durden Tue, 11/30/2021 - 23:45.....»»

Stanphyl Capital’s commentary for the month ended October 31, 2021, discussing their short position in Tesla Inc (NASDAQ:TSLA). Q3 2021 hedge fund letters, conferences and more The Biggest Bubble In Modern Stock Market History We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which now has a completely absurd diluted […] Stanphyl Capital’s commentary for the month ended October 31, 2021, discussing their short position in Tesla Inc (NASDAQ:TSLA). if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more The Biggest Bubble In Modern Stock Market History We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which now has a completely absurd diluted market cap of $1.25 trillion. Perhaps this ridiculousness is best shown graphically, courtesy of @MichalStupavsky and @AlbertBridgeCap; note that both these graphics were created hundreds of billions of dollars ago in Tesla market cap, and when viewing them please keep in mind that Tesla’s share of the world auto market is only around 1.1% (yes, one POINT one percent): And yet at some point when momentum-riding Tesla bulls (or, for that matter, bears) least expect it, TSLA will recouple with “reality,” and that’s why I continue to maintain a core short position. So here’s “reality”… Tesla has no “moat” of any kind; i.e., nothing meaningfully proprietary in terms of electric car technology, while existing automakers—unlike Tesla­—have a decades-long “experience moat” of knowing how to mass-produce, distribute and service high-quality cars consistently and profitably. Excluding sunsetting emission credit sales Tesla is barely profitable. Growth in sequential unit demand for Tesla’s cars is at a crawl relative to expectations. Elon Musk is a pathological liar who under the terms of his SEC settlement cannot deny having committed securities fraud. Tesla's Q3 Deliveries In October Tesla reported Q3 deliveries of 241,000 cars, 18,000 more than Wall Street’s “official” consensus and around 11,000 more than the 230,000-delivery “whisper number.” These (and even the entire 40,000-unit gain over Q2) are rounding errors for an auto company trading at even one-tenth of Tesla’s valuation. If in any quarter GM or VW or Toyota sold 2.04 million vehicles instead of 2 million or 1.96 million, no one would pay the slightest bit of attention to the difference. Seeing as Tesla is now being valued at nearly sixteen GMs, it’s time to start looking at its relatively tiny numerical sequential sales growth, rather than Wall Street’s sell-side hype of “percentage off a small base.” In other words, if you want to be valued at a giant multiple of “the big boys,” you should be treated as a big boy. In fact, a favorite hype story from Tesla fans has been “the China market” and its “record” number of 73,659 Q3 deliveries there. Let’s put this in perspective: this was only around 4000 more cars than in Q1 and only around 11,000 more than in Q2—these are “growth” rounding errors. And that “record” Q3 China quarter gave it just 1.5% of the overall passenger vehicle market and just 11% of the BEV market, and it had so much excess capacity that it exported tens of thousands of cars to Europe. And now in October, Tesla sales in China reportedly fell back to just 12,000 units. Remember when Musk claimed that Tesla’s Chinese domestic demand alone would need multiple factories to satisfy? Ah, the good old days! One likely way Tesla was able to post an upside surprise in Q3 deliveries was because competitors’ production (and thus inventories) were at the lowest level in decades due to the massive chip shortage, thereby eliminating a number of “Tesla alternatives.” Meanwhile, Tesla had record production because Musk (a notorious “corner-cutter”) was apparently willing to substitute untested, non-auto-grade chips for the more durable chips he couldn’t get; please see my Twitter post about this. Rounding Error As for the demand implications of the new U.S. EV tax credit (assuming it passes in its current form—which, by the way, benefits GM & Ford’s union-made cars with a $12,500 per-car credit vs. just $8000 for each Tesla), please see my Twitter thread as to why—relative to Tesla’s insane valuation and its fans’ expectations—it will likely result in just another “rounding error” of sales improvement. In its Q3 earnings report (released in October), Tesla claimed it made around $1.3 billion in free cash flow (defined as operating cash flow less capex). However, this number appears to be entirely due to working capital adjustments and not from the business itself. Let me explain: Tesla claimed operating cash flow of around $3.2 billion for the quarter, but this came with the benefit of accounts payable increasing by $702 million, receivables declining by $167 million and accrued liabilities up by $665 million while (detrimentally) prepaid expenses increased by $144 million. Adjusting for that massive net working capital benefit, operating cash flow was only a bit over $1.8 billion and with capex at $1.8 billion it means Tesla’s Q3 free cash flow was essentially zero; i.e., it’s a horrible business. Also in its Q3 report Tesla claimed it made around $1.45 billion in net income after excluding $279 million of pure-profit emission credit sales (excluded because they’ll almost entirely disappear some time next year when other automakers will have enough EVs of their own), and after adding back a $50 million Bitcoin write-down. However, that earnings number also includes what I estimate to be Tesla’s usual $300 million or so in unsustainably low warranty provisioning, and after adjusting for that and assuming no other fraudulent accounting, Tesla only earned around $1.06/share, which annualizes to $4.24. An auto industry PE multiple of 10x would thus make TSLA worth around $42/share (admittedly, more than the “$0” I once expected), while a “growth multiple” of 20x would value it at $84, which is almost a 93% discount to October’s closing price of $1114. And before you tell me that a 100% premium to the industry’s PE ratio isn’t enough, keep in mind that—as noted earlier—Tesla’s sequential unit growth is an auto industry rounding error. In fact, one could argue that Tesla’s multiple should carry a discount, considering the massive legal and financial liabilities continually generated by its pathologically lying CEO. Meanwhile Tesla continues to sell (and book cash flow, if not accounting revenue from) its fraudulent & dangerous so-called “Full Self Driving.” In a sane regulatory environment Tesla having done this for five years now would be considered “consumer fraud,” and indeed the regulatory tide may finally be turning, as in August two U.S. Senators demanded an FTC investigation and in October the NHTSA appointed a harsh critic of this deadly product to advise on its regulation. (For all known Tesla deaths see TeslaDeaths.com.) Are major write-downs and refunds on the way, killing the company’s slight “claimed profitability”? Stay tuned! And remember, the 2021 overview from Guidehouse Insights rates Tesla dead last among autonomous competitors: Proprietary Battery Technology Another favorite Tesla hype story has been built around so-called “proprietary battery technology.” In fact though, Tesla has nothing proprietary there—it doesn’t make them, it buys them from Panasonic, CATL and LG, and it’s the biggest liar in the industry regarding the real-world range of its cars. And if new-format 4680 cells enter the market some time in 2022 (as is now expected), their manufacturers will gladly sell them to anyone. Meanwhile, the quality of the Model Y—is awful, and that car faces current (or imminent) competition from the much better built electric Audi Q4 e-tron, BMW iX3, Mercedes EQA, Volvo XC40 Recharge, Volkswagen ID.4, Ford Mustang Mach E, Nissan Ariya, Hyundai Ioniq 5 and Kia EV6. And Tesla’s Model 3 now has terrific direct “sedan competition” from Volvo’s beautiful Polestar 2 and the premium version of Volkswagen’s ID.3 (in Europe), and later this year from the BMW i4, plus multiple local competitors in China. And in the high-end electric car segment worldwide the Audi e-tron and Porsche Taycan outsell the Models S & X (and the newly updated Tesla models with their dated exteriors and idiotic shifters & steering wheels won’t change this), while the spectacular new Mercedes EQS, Audi e-Tron GT and Lucid Air make the Tesla Model S look like a fast Yugo, while the extremely well reviewed new BMW iX does the same to the Model X. And oh, the joke of a “pickup truck” Tesla previewed in 2019 (and still hasn’t shown in production-ready form) won’t be much of “growth engine” either, as it will enter a dogfight of a market; in fact, in May Ford formally introduced its terrific new all-electric F-150 Lightning which now has over 150,000 reservations, Rivian’s pick-up has gotten fantastic early reviews, and in January at CES GM will introduce its electric Silverado. Meanwhile, Tesla quality ranks 30th among 33 brands in the latest J.D. Power dependability survey… …and second-to-last in the latest Consumer Reports reliability survey: …while the most recent What Car? survey shows similar results with Tesla finishing #29 out of 31, and now quality is slipping in China. Regarding safety, as noted earlier in this letter, Tesla continues to deceptively sell its hugely dangerous so-called “Autopilot” system, which Consumer Reports has completely eviscerated; God only knows how many more people this monstrosity unleashed on public roads will kill, despite the NTSB condemning it. Elsewhere in safety, in 2020 the Chinese government forced the recall of tens of thousands of Teslas for a dangerous suspension defect the company spent years trying to cover up, and now Tesla has been hit by a class-action lawsuit in the U.S. for the same defect. Tesla also knowingly sold cars that it knew were a fire hazard and did the same with solar systems, and after initially refusing to do so voluntarily, it was forced to recall a dangerously defective touchscreen. In other words, when it comes to the safety of customers and innocent bystanders, Tesla is truly one of the most vile companies on Earth. Meanwhile the massive number of lawsuits of all types against the company continues to escalate. So Here Is Tesla’s Competition In Cars (Note: These Links Are Regularly Updated)... Porsche Taycan Porsche Taycan Cross Turismo Porsche Macan Electric SUV Officially Coming in 2023 Volkswagen ID.3 Headlines VW's Electrified Future Volkswagen ID.4 Electric SUV Volkswagen ID 6 to arrive with 435-mile range in 2023 Volkswagen Aero B: new electric Passat equivalent spied VW’s Cupra brand counts on performance for Born EV Cupra, VW brand to get entry-level battery-powered cars Audi e-tron Audi e-tron Sportback Audi E-tron GT Audi Q4 e-tron Audi Q6 e-tron confirmed for 2022 launch Audi previews long-range A6 e-tron EV Audi TT set to morph into all-electric crossover Hyundai Ioniq 5 Hyundai Ioniq 6 spotted ahead of 2022 launch Hyundai Kona Electric Genesis reveals their first EV on the E-GMP platform, the electric GV60 crossover Genesis aims to go all-electric from 2025 Kia Niro Electric: 239-mile range & $39,000 before subsidies Kia EV6: Charging towards the future Kia EV4 on course to grow electric SUV range Jaguar’s All-Electric i-Pace Jaguar to become all-electric brand; Land Rover to Get 6 electric models Daimler will invest more than $47B in EVs and be all-electric ready by 2030 Mercedes EQS: the first electric vehicle in the luxury class Mercedes EQS SUV takes shape Mercedes-Benz unveils EQE electric sedan with impressive 400-mile range Mercedes EQE SUV to rival BMW iX and Tesla Model X Mercedes EQC electric SUV available now in Europe & China Mercedes-Benz Launches the EQV, its First Fully-Electric Passenger Van Mercedes-Benz EQB Makes Its European Debut, US Sales Confirmed Mercedes-Benz unveils EQA electric SUV with 265 miles of range and ~$46,000 price Ford Mustang Mach-E Available Now Ford F-150 Lightning electric pick-up available 2022 Ford set to launch ‘mini Mustang Mach-E’ electric SUV in 2023 Ford to offer EV versions of Explorer, Aviator, ‘rugged SUVs' Volvo Polestar 2 Volvo XC40 Recharge Volvo C40 electric sedan to challenge Tesla Model 3, VW ID3 Polestar 3 will be an electric SUV that shares its all-new platform with next Volvo XC90 Chevy updates, expands Bolt EV family as price drops Cadillac All-Electric Lyriq Available Spring 2022 GMC ALL-ELECTRIC SUPERTRUCK HUMMER EV GM to build electric Silverado in Detroit with estimated range of more than 400 miles GMC to launch electric Hummer SUV in 2023 GM will offer 30 all-electric models globally by 2025 GM Launches BrightDrop to Electrify the Delivery of Goods and Services Nissan vows to hop back on EV podium with Ariya Nissan LEAF e+ with 226-mile range is available now BMW leads off EV offensive with iX3 BMW expands EV offerings with iX tech flagship and i4 sedan 2022 BMW iX1 electric SUV spied BMW 3-series EV coming Rivian R1T Is the Most Remarkable Pickup We’ve Ever Driven Renault upgrades Zoe electric car as competition intensifies Renault Dacia Spring Electric SUV Renault to boost low-volume Alpine brand with 3 EVs Renault's electric Megane will debut new digital cockpit Stellantis promises 'heart-of-the-market SUV' from new, 8-vehicle EV platform Alfa Romeo is latest Stellantis brand to get all-electric future Peugeot e-208 PEUGEOT E-2008: THE ELECTRIC AND VERSATILE SUV Peugeot 308 will get full-electric version Citroen compact EV challenges VW ID3 on price Maserati to launch electric sports car Mini Cooper SE Electric Toyota's bZ4X EV gets 300-mile range, steer by wire; first of 7 BEVs by 2025 Opel sees electric Corsa as key EV entry 2021 Vauxhall Mokka revealed as EV with sharp looks, massive changes Skoda Enyaq iV electric SUV offers range of power, battery sizes Electric Skoda Enyaq coupe to muscle-in on Tesla Model 3 Skoda plans small EV, cheaper variants to take on French, Korean rivals Nio to launch in five more European countries after Norway BYD will launch electric SUV in Europe The Lucid Air Achieves an Estimated EPA Range of 517 Miles on a Single Charge Bentley converting to electric-only brand All-electric Rolls-Royce Spectre to launch in 2023 – firm to be EV-only by 2030 Aston Martin will build electric vehicles in UK from 2025 Meet the Canoo, a Subscription-Only EV Pod Coming in 2021 Two new electric cars from Mahindra in India; Global Tesla rival e-car soon Former Saab factory gets new life building solar-powered Sono Sion electric cars Foxconn aims for 10% of electric car platform market by 2025 And In China... How VW Group plans to dominate China's EV market VW Goes Head-to-Head With Tesla in China With New ID.4 Crozz Electric SUV Volkswagen’s ID.3 EV to be produced by JVs with SAIC, FAW in 2021 2022 VW ID.6 Revealed With Room For Seven And Two Electric Motors China-built Audi e-tron rolls off production line in Changchun Audi Q2L e-tron debuts at Auto Shanghai Audi will build Q4 e-tron in China Audi Q5 e-tron Confirmed For China Audi in cooperation company for local electric car production with FAW FAW Hongqi starts selling electric SUV with 400km range for $32,000 FAW (Hongqi) to roll out 15 electric models by 2025 BYD goes after market left open by Tesla with four cheaper models for budget-conscious buyers BYD said to launch premium NEV brand ‘Dolphin’ in 2022 Top of Form Bottom of Form Daimler & BYD launch DENZA electric vehicle for the Chinese market Geely announces premium EV brand Zeekr Geely, Mercedes-Benz launch $780 million JV to make electric smart-branded cars Mercedes styled Denza X 7-seat electric SUV to hit market Mercedes ‘makes mark’ with China-built EQC BMW, Great Wall to build new China plant for electric cars BAIC Goes Electric, & Establishes Itself as a Force in China’s New Energy Vehicle Future BAIC BJEV, Magna ready to pour RMB2 bln in all-electric PV manufacturing JV Toyota, BYD will jointly develop electric vehicles for China Lexus to launch EV in China taking on VW and Tesla GAC Aion about to start volume production of 1,000-km range AION LX GAC Toyota to ramp up annual capacity by 400,000 NEVs GAC kicks off delivery of HYCAN 007 all-electric SUV Nio – Ready For Tomorrow Nio steps up plans for mass-market brand to compete with VW, Toyota Xpeng Motors sells multiple EV models SAIC-GM to build Ultium EV platform in Wuhan Chevrolet Menlo Electric Vehicle Launched in China Buick Launches VELITE 6 PLUS MAV Electric Vehicle in China Buick Velite 7 EV And Velite 6 PHEV Launch In China Dongfeng launches the all-electric Voyah  PSA to accelerate rollout of electrified vehicles in China SAIC, Alibaba-backed EV brand IM begins presale of first model L7 Hyundai Motor Transforming Chongqing Factory into Electric Vehicle Plant Polestar said to plan China showroom expansion to compete with Tesla Jaguar Land Rover's Chinese arm invests £800m in EV production Renault reveals series urban e-SUV K-ZE for China Renault & Brilliance detail electric van lineup for China Renault forms China electric vehicle venture with JMCG Honda to start sales of new EV-branded vehicles in China in 2022 Geely launches new electric car brand 'Geometry' – will launch 10 EVs by 2025 Geely, Foxconn form partnership to build cars for other automakers Fiat Chrysler, Foxconn Team Up for Electric Vehicles Baidu to create an intelligent EV company with automaker Geely Leapmotor starts presale of C11 electric SUV on Jan. 1 2021 Changan forms subsidiary Avatar Technology to develop smart EVs with Huawei, CATL WM Motors/Weltmeister Chery Seres Enovate China's cute Ora R1 electric hatch offers a huge range for less than US$9,000 Singulato JAC Motors releases new product planning, including many NEVs Seat to make purely electric cars with JAC VW in China Iconiq Motors Hozon Aiways Skyworth Auto Youxia CHJ Automotive begins to accept orders of Leading Ideal ONE Infiniti to launch Chinese-built EV in 2022 Human Horizons Chinese smartphone giant Xiaomi to launch electric car business with $10 billion investment Lifan Technology to roll out three EV models with swappable batteries in 2021 Here’s Tesla’s Competition In Autonomous Driving... Waymo ranked top & Tesla last in Guidehouse leaderboard on automated driving systems Tesla has a self-driving strategy other companies abandoned years ago Fiat Chrysler, Waymo expand self-driving partnership for passenger, delivery vehicles Waymo and Lyft partner to scale self-driving robotaxi service in Phoenix Volvo, Waymo partner to build self-driving vehicles Jaguar and Waymo announce an electric, fully autonomous car Renault, Nissan partner with Waymo for self-driving vehicles Cruise and GM Team Up with Microsoft to Commercialize Self-Driving Vehicles Cadillac Super Cruise Sets the Standard for Hands-Free Highway Driving Honda Joins with Cruise and General Motors to Build New Autonomous Vehicle Honda launching Level 3 autonomous cars Volkswagen moves ahead with Autonomous Driving R&D for Mobility as a Service Volkswagen teams up with Microsoft to accelerate the development of automated driving VW taps Baidu's Apollo platform to develop self-driving cars in China Ford's electric Mustang will offer hands-free driving technology in 2021 ARGO AI AND FORD TO LAUNCH SELF-DRIVING VEHICLES ON LYFT NETWORK BY END OF 2021 Hyundai and Kia Invest in Aurora Toyota, Denso form robotaxi partnership with Aurora Aptiv and Hyundai Motor Group complete formation of autonomous driving joint venture Amazon’s Zoox unveils electric robotaxi that can travel up to 75 mph Nvidia and Mercedes Team Up to Make Next-Gen Vehicles Daimler's heavy trucks start self-driving some of the way SoftBank, Toyota's self-driving car venture adds Mazda, Suzuki, Subaru Corp, Isuzu Daihatsu  Continental & NVIDIA Partner to Enable Production of Artificial Intelligence Self-Driving Cars Mobileye and Geely to Offer Most Robust Driver Assistance Features Mobileye Starts Testing Self-Driving Vehicles in Germany Mobileye and NIO Partner to Bring Level 4 Autonomous Vehicles to Consumers Lucid Chooses Mobileye as Partner for Autonomous Vehicle Technology AutoX, backed by Alibaba Nissan gives Japan version of Infiniti Q50 hands-free highway driving Hyundai to start autonomous ride-sharing service in Calif. Pony.ai raises $462 million in Toyota-led funding Baidu kicks off trial operation of Apollo robotaxi in Changsha Toyota to join Baidu's open-source self-driving platform Baidu, WM Motor announce strategic partnership for L3, L4 autonomous driving solutions Volvo will provide cars for Didi's self-driving test fleet BMW and Tencent to develop self-driving car technology together BMW, NavInfo bolster partnership in HD map service for autonomous cars in China GM Invests $300 M in Momenta to deliver self-driving technologies in China FAW Hongqi readies electric SUV offering Level 4 autonomous driving Tencent, Changan Auto Announce Autonomous-Vehicle Joint Venture Huawei teams up with BAIC BJEV, Changan, GAC to co-launch self-driving car brands GAC Aion, DiDi Autonomous Driving to co-develop driverless NEV model BYD partners with Huawei for autonomous driving Lyft, Magna in Deal to Develop Hardware, Software for Self-Driving Cars Xpeng releases autonomous features for highway driving Nuro Becomes First Driverless Car Delivery Service in California Deutsche Post to Deploy Test Fleet Of Fully Autonomous Delivery Trucks ZF autonomous EV venture names first customer Magna’s new MAX4 self-driving platform offers autonomy up to Level 4 Groupe PSA’s safe and intuitive autonomous car tested by the general public Mitsubishi Electric to Exhibit Autonomous-driving Technologies in New xAUTO Test Vehicle Apple acquires self-driving startup Drive.ai Motional to begin robotaxi testing with Hyundai Ioniq 5 in Los Angeles JD.com Delivers on Self-Driving Electric Trucks NAVYA Unveils First Fully Autonomous Taxi Fujitsu and HERE to partner on advanced mobility services and autonomous driving Here’s Where Tesla’s Competition Will Get Its Battery Cells... Panasonic (making deals with multiple automakers) LG Samsung SK Innovation Toshiba CATL BYD Volkswagen to Build Six Electric-Vehicle Battery Factories in Europe How GM's Ultium Battery Will Help It Commit to an Electric Future Ultium (General Motors & LG joint venture) GM to develop lithium-metal batteries with SolidEnergy Systems Ford, SK Innovation announce EV battery joint venture BMW & Ford Invest in Solid Power to Secure All Solid-State Batteries for Future Electric Vehicles Stellantis, LG Energy Solution to form battery JV for N. American market Toyota to build U.S. battery plant Daimler joins Stellantis as partner in European battery cell venture ACC Renault signs EV battery deals with Envision, Verkor for French plants Nissan to build $1.4bn EV battery plant in UK with Chinese partner UK companies AMTE Power and Britishvolt plan $4.9 billion investment in battery plants Freyr Verkor Farasis Microvast Akasol Cenat Wanxiang Eve Energy Svolt Romeo Power ProLogium Hyundai Motor developing solid-state EV batteries Daimler Morrow Here’s Tesla’s Competition In Charging Networks... Electrify America is spending $2 billion building a high-speed U.S. charging network GM to distribute up to 10 chargers to each of its dealerships starting early 2022 GM, EVgo partner to expand U.S. charging network Circle K Owner Plans Electric-Car Charging Push in U.S., Canada 191 U.S. Porsche dealers are installing 350kw chargers ChargePoint to equip Daimler dealers with electric car chargers GM and Bechtel plan to build thousands of electric car charging stations across the US Ford introduces 12,000 station charging network, teams with Amazon on home installation Shell Plans To Deploy Around 500,000 Charging Points Globally By 2025 Petro-Canada Introduces Coast-to-Coast Canadian Charging Network Volta is rolling out a free charging network Ionity Europe E.ON and Virta launch one of the largest intelligent EV charging networks in Europe Volkswagen plans 36,000 charging points for electric cars throughout Europe Smatric has over 400 charging points in Austria Allego has hundreds of chargers in Europe PodPoint UK charging stations BP Chargemaster/Polar is building stations across the UK Instavolt is rolling out a UK charging network Fastned building 150kw-350kw chargers in Europe Aral To Install Over 100 Ultra-Fast Chargers In Germany Deutsche Telekom launches installation of charging network for e-cars Total to build 1,000 high-powered charging points at 300 European service-stations NIO teams up with China’s State Grid to build battery charging, swapping stations Volkswagen-based CAMS launches supercharging stations in China Volkswagen, FAW Group, JAC Motors, Star Charge formally announce new EV charging JV BMW to Build 360,000 Charging Points in China to Juice Electric Car Sales BP, Didi Jump on Electric-Vehicle Charging Bandwagon Evie rolls out ultrafast charging network in Australia Evie Networks To Install 42 Ultra-Fast Charging Sites In Australia And Here’s Tesla’s Competition In Storage Batteries... Panasonic Samsung LG BYD AES + Siemens (Fluence) GE Bosch Hitachi ABB Toshiba Saft Johnson Contols EnerSys SOLARWATT Schneider Electric Sonnen Kyocera Generac Kokam NantEnergy Eaton Nissan Tesvolt Kreisel Leclanche Lockheed Martin EOS Energy Storage ESS UET electrIQ Power Belectric Stem ENGIE Redflow Renault Primus Power Simpliphi Power redT Energy Storage Murata Bluestorage Adara Blue Planet Tabuchi Electric Aggreko Orison Moixa Powin Energy Nidec Powervault Kore Power Shanghai Electric Schmid 24M Ecoult Innolith LithiumWerks Natron Energy Energy Vault Ambri Voltstorage Cadenza Innovation Morrow Gridtential Villara Elestor   Thanks and stay healthy, Mark Spiegel Updated on Nov 1, 2021, 11:19 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Alphabet's (GOOGL) Google unveils Pixel 6 and Pixel 6 Pro. The move is likely to bolster its position in the smartphone market. Alphabet’s GOOGL division Google has launched its long-awaited next-generation Pixel phones — Pixel 6 and Pixel 6 Pro — with a display screen of 6.4 inches and 6.7 inches, respectively.Notably, the high-end smartphones are built on Google’s first system-on-chip called Tensor, which has been developed for offering strong battery life and quick speech recognition feature, leveraging AI and image-processing capabilities of the company.Hence, these phones are the first ones that are comprised of a chip other than Qualcomm, MediaTek and Apple’s AAPL chip.The new Pixel phones are based on the latest Android version — Android 12 — which delivers advanced safety and personalization features.Apart from this, the devices are comprised of a Titan M2 security chip for ensuring passcode protection, encryption and secure app-enabled transactions.With the latest launch, Google ups its game against companies like Apple and Samsung SSNLF, which are well-known providers of high-end advanced smartphones.More Into the DetailsThe camera included in the devices reflects skin tone with accuracy, as it features enhanced white balance and exposure tuning. Also, the camera is well-equipped to control and lessen stray light in photos.All these make Pixel 6 and Pixel 6 Pro better choices for capturing darker skin tones more accurately. Further, there are motion mode features like Action Pan and Long Exposure, which add movement to the shots.We note that both models will go on sale from Oct 28 onward, wherein Pixel 6 is priced at $599 and Pixel 6 Pro costs $899.In addition to the phones, the company has rolled out a subscription service called Pixel Pass in the United States, which offers the best of Google. The service costs $45 and $55 per month with Pixel 6 and Pixel 6 Pro, respectively, and offers access to Google One, YouTube Premium and YouTube Music Premium, and Google Play Pass and Preferred Care.Further, Pixel Pass offers the option to customers to upgrade to a new Pixel after two years.Alphabet Inc. Price and Consensus  Alphabet Inc. price-consensus-chart | Alphabet Inc. QuoteSmartphone Market Holds PromiseWe believe that Google, with its latest versions of the Pixel phone, is well-poised to cater to the ever-increasing demand for smartphones especially amid the pandemic.In this data-driven world, smartphones have become inevitable in day-to-day life by enabling users to get necessary, important and urgent work done via phones without any hassle.The growing penetration of internet use globally is another factor that is bolstering the demand for smartphones on a persistent basis.Per a report from IDC, the worldwide smartphone shipment in 2021 is anticipated to hit 1.37 billion units, reflecting growth of 7.4%. Growing uptake of 5G smartphones is acting as the primary factor behind the boom in the smartphone market.Per a Technavio report, the global smartphone market is likely to witness a CAGR of more than 6% between 2021 and 2025.Intensifying CompetitionGiven the upbeat scenario, companies like Apple, Samsung, Lenovo, Nokia NOK, Xiaomi, Motorola, Vivo, Oppo and OnePlus are also leaving no stone unturned to expand their share in the smartphone market.Recently, Apple, which is continuously riding on the popularity of iPhone and its brand loyalty, unveiled four iPhone models — iPhone 13, iPhone 13 mini, iPhone 13 Pro and iPhone 13 Pro Max.Samsung, which is also enjoying strong customer momentum on the back of its high-end as well as an affordable range of smartphones, has come up with Galaxy Z Flip 3 and Galaxy Z Fold 3 models.Meanwhile, Xiaomi and OnePlus are persistently gaining traction in the market with their advanced featured affordable smartphones.Additionally, Nokia, Motorola, Lenovo, Oppo and Vivo continue to enjoy solid customer momentum on the back of their low-end smartphones with strong features.Nevertheless, Google’s innovative skills, robust voice assistant and widely preferred Android operating system worldwide are likely to continue aiding the adoption rate of its Pixel phones.Currently, Alphabet carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100s of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL): Free Stock Analysis Report Nokia Corporation (NOK): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Stanphyl Capital’s commentary for the month ended September 30, 2021, discussing their short position in Tesla Inc (NASDAQ:TSLA). Q2 2021 hedge fund letters, conferences and more We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which currently has a diluted market cap of $868 billion, roughly equal to the $870 […] Stanphyl Capital’s commentary for the month ended September 30, 2021, discussing their short position in Tesla Inc (NASDAQ:TSLA). if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get Our Activist Investing Case Study! Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below! (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2021 hedge fund letters, conferences and more We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which currently has a diluted market cap of $868 billion, roughly equal to the $870 billion (non-diluted) combined market caps of Toyota ($253 billion), VW ($141 billion), Daimler ($96 billion), GM ($76 billion), BMW ($65 billion), Stellantis ($60 billion), Ford ($57 billion), Honda ($53 billion), Hyundai ($49 billion) and Nissan ($20 billion), despite annualized sales for Tesla of around 800,000 cars a year to their over 50 million. The core points of our Tesla short thesis are: Tesla has no “moat” of any kind; i.e., nothing meaningfully proprietary in terms of electric car technology, while existing automakers—unlike Tesla­—have a decades-long “experience moat” of knowing how to mass-produce, distribute and service high-quality cars consistently and profitably, as well as the ability to subsidize losses on electric cars with profits from their conventional cars. Excluding sunsetting emission credit sales Tesla is barely profitable. Growth in sequential unit demand for Tesla’s cars has slowed to a crawl. Elon Musk is a pathological liar who under the terms of his SEC settlement cannot deny having committed securities fraud. Tesla's Expected Q3 Sales Growth Latest estimates are that Tesla is expected to report around 29,000 more deliveries for Q3 vs. Q2 (approximately 230,000 vs. Q1’s 201,000), a rounding error for an auto company trading at even one-tenth of Tesla’s valuation. If in any quarter GM or VW or Toyota sold 2.55 million vehicles instead of 2.58 million or 2.525 million, no one would pay the slightest bit of attention to the difference. Well guess what? Seeing as Tesla is being valued at more than eleven GMs, it’s time to start looking at its relatively tiny numerical sequential sales growth, rather than Wall Street’s sell-side hype of “percentage off a small base.” In other words, if you want to be valued at a giant multiple of “the big boys,” it’s time you were treated as a big boy! Meanwhile in July, thanks to an suspiciously high gross margin and very “non-growthy” reduced R&D expense, Tesla reported an improved Q2 2021, claiming to have earned $788 million excluding $354 million of pure-profit emission credit sales (excluded because they’ll almost entirely disappear some time next year when other automakers will have enough EVs of their own). However, that earnings number also includes what I estimate to be around $300 million in unsustainably low warranty provisioning, and after adjusting for that plus the credit sales, I believe Tesla earned a sustainable .43/share, which annualizes to $1.72. An auto industry PE multiple of 10x would thus make TSLA worth around $17/share (admittedly, more than the “$0” I previously expected). A “growth multiple” of 20x would value it at $34, which is more than a 95% discount to September’s closing price of $775. And before you tell me that a 100% premium to the industry’s PE ratio isn’t enough, keep in mind that—as noted earlier—Tesla’s sequential unit growth is an auto industry rounding error. In fact, one could argue that Tesla’s multiple should carry a discount, considering the massive legal and financial liabilities continually generated by its pathologically lying CEO. Meanwhile, on the Q2 earnings call Musk admitted that the so-called “Full Self Driving” he’s been selling for five years (and that Consumer Reports calls outright dangerous) doesn’t work, and he said it again in August following an “AI Day” in which he tried to cover up the Tesla’s autonomy cluelessness with an inert plastic statue of a robot and a man dancing in a unitard. (You had to see it to believe it and then you still wouldn’t believe it!)  In a saner regulatory environment Tesla’s selling of “Full Self Driving” for five years now would be considered “consumer fraud,” and indeed in August two U.S. Senators finally demanded an FTC investigation while the NHTSA opened yet another safety investigation. (For all known Tesla deaths see TeslaDeaths.com.) Will there be major write-downs and refunds given, killing the company’s slight “profitability”? Stay tuned! And remember, the 2021 overview from Guidehouse Insights rates Tesla dead last among autonomous competitors: The Chinese Government's Love Affair With Tesla Is Over Another favorite hype story from Tesla fans has been “the China market.” Sadly, that government’s love affair with Tesla is over and Q2 Tesla sales there were down 10% from Q1 while Q3 looks to be down approximately 10% more. In July Tesla sold just 8621 cars in China (with the balance of that month’s production exported to Europe) and in August only 12,885. This an absolute disaster for Tesla, as massive July price cuts on both the Model Y and the Model 3 meant that in August in China it was supposed to sell around 30,000; instead it had to export all that excess capacity. (It still may sell around 50,000 in China in September, but so what? With insignificantly small sequential growth for three quarters now, Tesla’s Chinese “hypergrowth” story is over.) Remember when Musk claimed Tesla would have so much domestic Chinese demand that it would need multiple factories there to satisfy it? Ah, the good old days! Another favorite Tesla hype story has been built around so-called “proprietary battery technology.” In fact though, Tesla has nothing proprietary there—it doesn’t make them, it buys them from Panasonic, CATL and LG, and it’s the biggest liar in the industry regarding the real-world range of its cars. A recent story has been the supposedly imminent arrival of a new “4680” design that Teslemmings and their sell-side Wall Street shills claim will allow Tesla to “leapfrog” the batteries of its competitors. Sadly for them though, in a June interview with the CEO of Tesla’s primary battery supplier Panasonic, we learned that not only are these cells still in the “production testing” phase (and thus nowhere near ready for commercial production), but that if they *do* work, Panasonic will sell them to anyone.  And then news broke that Tesla extended its current battery supply deal with CATL until the year 2025, and in August it revealed it will even be using those Chinese-made batteries in the U.S. If those great proprietary 4680s were coming any time soon, why would Tesla need to do that? Obviously it wouldn’t, which explains why in the Q2 earnings press release (and on the call) Musk admitted they don’t know how long (if ever) it will take to get those 4680 batteries into production. Oh well… I guess it’s on to the next nonsensical stock pump! Meanwhile, the quality of the Model Y—is awful, and that car faces current (or imminent) competition from the much better built electric Audi Q4 e-tron, BMW iX3, Mercedes EQA, Volvo XC40 Recharge, Volkswagen ID.4, Ford Mustang Mach E, Nissan Ariya, Hyundai Ioniq 5 and Kia EV6. And Tesla’s Model 3 now has terrific direct “sedan competition” from Volvo’s beautiful Polestar 2 and the premium version of Volkswagen’s ID.3 (in Europe), and later this year from the BMW i4, plus multiple local competitors in China. And in the high-end electric car segment worldwide the Audi e-tron and Porsche Taycan outsell the Models S & X (and the newly updated Tesla models with their dated exteriors and idiotic shifters & steering wheels won’t change this), while the spectacular new Mercedes EQS and Audi e-Tron GT make any Tesla look like a Yugo, while the extremely well reviewed new BMW iX does the same to the Tesla Model X. And oh, the joke of a “pickup truck” Tesla previewed in 2019 (and still hasn’t shown in production-ready form) won’t be much of “growth engine” either, as it will enter a dogfight of a market; in fact, in May Ford formally introduced its terrific new all-electric F-150 Lightning which now has over 150,000 reservations and Rivian’s pick-up has gotten fantastic early reviews. Also, the Tesla semi-truck  has been delayed until at least 2022 (and possibly forever, as it depends on the aforementioned “4680” batteries that don’t exist). Meanwhile, Tesla quality ranks 30th among 33 brands in the most recent J.D. Power dependability survey… …and second-to-last in the most recent Consumer Reports reliability survey: …while the most recent What Car? survey shows similar results with Tesla finishing #29 out of 31, and now quality is slipping in China. Flawed Autopilot System Regarding safety, as noted earlier in this letter, Tesla continues to deceptively sell its hugely dangerous so-called “Autopilot” system, which Consumer Reports has completely eviscerated; God only knows how many more people this monstrosity unleashed on public roads will kill, despite the NTSB condemning it. Elsewhere in safety, in 2020 the Chinese government forced the recall of tens of thousands of Teslas for a dangerous suspension defect the company spent years trying to cover up, and now Tesla has been hit by a class-action lawsuit in the U.S. for the same defect. Tesla also knowingly sold cars that it knew were a fire hazard and did the same with solar systems, and after initially refusing to do so voluntarily, it was forced to recall a dangerously defective touchscreen. In other words, when it comes to the safety of customers and innocent bystanders, Tesla is truly one of the most vile companies on Earth. Meanwhile the massive number of lawsuits of all types against the company continues to escalate. So here is Tesla’s competition in cars... (note: these links are regularly updated) Porsche Taycan Porsche Taycan Cross Turismo Porsche Macan Electric SUV Officially Coming in 2023 Volkswagen ID.3 Headlines VW's Electrified Future Volkswagen ID.4 Electric SUV Volkswagen ID 6 to arrive with 435-mile range in 2023 Volkswagen Aero B: new electric Passat equivalent spied VW’s Cupra brand counts on performance for Born EV Cupra, VW brand to get entry-level battery-powered cars Audi e-tron Audi e-tron Sportback Audi E-tron GT Audi Q4 e-tron Audi Q6 e-tron confirmed for 2022 launch Audi previews long-range A6 e-tron EV Audi TT set to morph into all-electric crossover Hyundai Ioniq 5 Hyundai Ioniq 6 spotted ahead of 2022 launch Hyundai Kona Electric Genesis reveals their first EV on the E-GMP platform, the electric GV60 crossover Genesis aims to go all-electric from 2025 Kia Niro Electric: 239-mile range & $39,000 before subsidies Kia EV6: Charging towards the future Kia EV4 on course to grow electric SUV range Jaguar’s All-Electric i-Pace Jaguar to become all-electric brand; Land Rover to Get 6 electric models Daimler will invest more than $47B in EVs and be all-electric ready by 2030 Mercedes EQS: the first electric vehicle in the luxury class Mercedes EQS SUV takes shape Mercedes-Benz unveils EQE electric sedan with impressive 400-mile range Mercedes EQC electric SUV available now in Europe & China Mercedes-Benz Launches the EQV, its First Fully-Electric Passenger Van Mercedes-Benz EQB Makes Its European Debut, US Sales Confirmed Mercedes-Benz unveils EQA electric SUV with 265 miles of range and ~$46,000 price Ford Mustang Mach-E Available Now Ford F-150 Lightning electric pick-up available 2022 Ford set to launch ‘mini Mustang Mach-E’ electric SUV in 2023 Ford to offer EV versions of Explorer, Aviator, ‘rugged SUVs' Volvo Polestar 2 Volvo XC40 Recharge Volvo C40 electric sedan to challenge Tesla Model 3, VW ID3 Polestar 3 will be an electric SUV that shares its all-new platform with next Volvo XC90 Chevy updates, expands Bolt EV family as price drops Cadillac All-Electric Lyriq Available Spring 2022 GMC ALL-ELECTRIC SUPERTRUCK HUMMER EV GM to build electric Silverado in Detroit with estimated range of more than 400 miles GMC to launch electric Hummer SUV in 2023 GM will offer 30 all-electric models globally by 2025 GM Launches BrightDrop to Electrify the Delivery of Goods and Services Nissan vows to hop back on EV podium with Ariya Nissan LEAF e+ with 226-mile range is available now BMW leads off EV offensive with iX3 BMW expands EV offerings with iX tech flagship and i4 sedan 2022 BMW iX1 electric SUV spied BMW 3-series EV coming Rivian R1T Is the Most Remarkable Pickup We’ve Ever Driven Renault upgrades Zoe electric car as competition intensifies Renault Dacia Spring Electric SUV Renault to boost low-volume Alpine brand with 3 EVs Renault's electric Megane will debut new digital cockpit Stellantis promises 'heart-of-the-market SUV' from new, 8-vehicle EV platform Alfa Romeo is latest Stellantis brand to get all-electric future Peugeot e-208 PEUGEOT E-2008: THE ELECTRIC AND VERSATILE SUV Peugeot 308 will get full-electric version Citroen compact EV challenges VW ID3 on price Maserati to launch electric sports car Mini Cooper SE Electric Toyota steps up electric vehicle push with plans for 15 new models Opel sees electric Corsa as key EV entry 2021 Vauxhall Mokka revealed as EV with sharp looks, massive changes Skoda Enyaq iV electric SUV offers range of power, battery sizes Electric Skoda Enyaq coupe to muscle-in on Tesla Model 3 Skoda plans small EV, cheaper variants to take on French, Korean rivals Nio to launch in five more European countries after Norway BYD will launch electric SUV in Europe The Lucid Air Achieves an Estimated EPA Range of 517 Miles on a Single Charge Bentley converting to electric-only brand Rolls-Royce is working on EV called 'Silent Shadow' Aston Martin will build electric vehicles in UK from 2025 Meet the Canoo, a Subscription-Only EV Pod Coming in 2021 Two new electric cars from Mahindra in India; Global Tesla rival e-car soon Former Saab factory gets new life building solar-powered Sono Sion electric cars Foxconn aims for 10% of electric car platform market by 2025 And in China… How VW Group plans to dominate China's EV market VW Goes Head-to-Head With Tesla in China With New ID.4 Crozz Electric SUV Volkswagen’s ID.3 EV to be produced by JVs with SAIC, FAW in 2021 2022 VW ID.6 Revealed With Room For Seven And Two Electric Motors China-built Audi e-tron rolls off production line in Changchun Audi Q2L e-tron debuts at Auto Shanghai Audi will build Q4 e-tron in China Audi in cooperation company for local electric car production with FAW FAW Hongqi starts selling electric SUV with 400km range for $32,000 FAW (Hongqi) to roll out 15 electric models by 2025 BYD goes after market left open by Tesla with four cheaper models for budget-conscious buyers BYD said to launch premium NEV brand ‘Dolphin’ in 2022 Top of Form Bottom of Form Daimler & BYD launch DENZA electric vehicle for the Chinese market Geely announces premium EV brand Zeekr Geely, Mercedes-Benz launch $780 million JV to make electric smart-branded cars Mercedes styled Denza X 7-seat electric SUV to hit market Mercedes ‘makes mark’ with China-built EQC BMW, Great Wall to build new China plant for electric cars BAIC Goes Electric, & Establishes Itself as a Force in China’s New Energy Vehicle Future BAIC BJEV, Magna ready to pour RMB2 bln in all-electric PV manufacturing JV Toyota, BYD will jointly develop electric vehicles for China Lexus to launch EV in China taking on VW and Tesla GAC Aion about to start volume production of 1,000-km range AION LX GAC Toyota to ramp up annual capacity by 400,000 NEVs GAC kicks off delivery of HYCAN 007 all-electric SUV Nio – Ready For Tomorrow Nio steps up plans for mass-market brand to compete with VW, Toyota Xpeng Motors sells multiple EV models SAIC-GM to build Ultium EV platform in Wuhan Chevrolet Menlo Electric Vehicle Launched in China Buick Launches VELITE 6 PLUS MAV Electric Vehicle in China Buick Velite 7 EV And Velite 6 PHEV Launch In China Dongfeng launches the all-electric Voyah  PSA to accelerate rollout of electrified vehicles in China SAIC, Alibaba-backed EV brand IM begins presale of first model L7 Hyundai Motor Transforming Chongqing Factory into Electric Vehicle Plant Polestar said to plan China showroom expansion to compete with Tesla Jaguar Land Rover's Chinese arm invests £800m in EV production Renault reveals series urban e-SUV K-ZE for China Renault & Brilliance detail electric van lineup for China Renault forms China electric vehicle venture with JMCG Honda to roll out over 20 electric models in China by 2025 Geely launches new electric car brand 'Geometry' – will launch 10 EVs by 2025 Geely, Foxconn form partnership to build cars for other automakers Fiat Chrysler, Foxconn Team Up for Electric Vehicles Baidu to create an intelligent EV company with automaker Geely Leapmotor starts presale of C11 electric SUV on Jan. 1 2021 Changan forms subsidiary Avatar Technology to develop smart EVs with Huawei, CATL WM Motors/Weltmeister Chery Seres Enovate China's cute Ora R1 electric hatch offers a huge range for less than US$9,000 Singulato JAC Motors releases new product planning, including many NEVs Seat to make purely electric cars with JAC VW in China Iconiq Motors Hozon Aiways Skyworth Auto Youxia CHJ Automotive begins to accept orders of Leading Ideal ONE Infiniti to launch Chinese-built EV in 2022 Human Horizons Chinese smartphone giant Xiaomi to launch electric car business with $10 billion investment Lifan Technology to roll out three EV models with swappable batteries in 2021 Here’s Tesla’s Competition In Autonomous Driving... Waymo ranked top & Tesla last in Guidehouse leaderboard on automated driving systems Tesla has a self-driving strategy other companies abandoned years ago Fiat Chrysler, Waymo expand self-driving partnership for passenger, delivery vehicles Waymo and Lyft partner to scale self-driving robotaxi service in Phoenix Volvo, Waymo partner to build self-driving vehicles Jaguar and Waymo announce an electric, fully autonomous car Renault, Nissan partner with Waymo for self-driving vehicles Cruise and GM Team Up with Microsoft to Commercialize Self-Driving Vehicles Cadillac Super Cruise Sets the Standard for Hands-Free Highway Driving Honda Joins with Cruise and General Motors to Build New Autonomous Vehicle Honda launching Level 3 autonomous cars Volkswagen moves ahead with Autonomous Driving R&D for Mobility as a Service Volkswagen teams up with Microsoft to accelerate the development of automated driving VW taps Baidu's Apollo platform to develop self-driving cars in China Ford's electric Mustang will offer hands-free driving technology in 2021 ARGO AI AND FORD TO LAUNCH SELF-DRIVING VEHICLES ON LYFT NETWORK BY END OF 2021 Hyundai and Kia Invest in Aurora Toyota, Denso form robotaxi partnership with Aurora Aptiv and Hyundai Motor Group complete formation of autonomous driving joint venture Amazon’s Zoox unveils electric robotaxi that can travel up to 75 mph Nvidia and Mercedes Team Up to Make Next-Gen Vehicles Daimler's heavy trucks start self-driving some of the way SoftBank, Toyota's self-driving car venture adds Mazda, Suzuki, Subaru Corp, Isuzu Daihatsu  Continental & NVIDIA Partner to Enable Production of Artificial Intelligence Self-Driving Cars Mobileye and Geely to Offer Most Robust Driver Assistance Features Mobileye Starts Testing Self-Driving Vehicles in Germany Mobileye and NIO Partner to Bring Level 4 Autonomous Vehicles to Consumers Lucid Chooses Mobileye as Partner for Autonomous Vehicle Technology AutoX, backed by Alibaba Nissan gives Japan version of Infiniti Q50 hands-free highway driving Hyundai to start autonomous ride-sharing service in Calif. Pony.ai raises $462 million in Toyota-led funding Baidu kicks off trial operation of Apollo robotaxi in Changsha Toyota to join Baidu's open-source self-driving platform Baidu, WM Motor announce strategic partnership for L3, L4 autonomous driving solutions Volvo will provide cars for Didi's self-driving test fleet BMW and Tencent to develop self-driving car technology together BMW, NavInfo bolster partnership in HD map service for autonomous cars in China GM Invests $300 M in Momenta to deliver self-driving technologies in China FAW Hongqi readies electric SUV offering Level 4 autonomous driving Tencent, Changan Auto Announce Autonomous-Vehicle Joint Venture Huawei teams up with BAIC BJEV, Changan, GAC to co-launch self-driving car brands GAC Aion, DiDi Autonomous Driving to co-develop driverless NEV model BYD partners with Huawei for autonomous driving Lyft, Magna in Deal to Develop Hardware, Software for Self-Driving Cars Xpeng releases autonomous features for highway driving Nuro Becomes First Driverless Car Delivery Service in California Deutsche Post to Deploy Test Fleet Of Fully Autonomous Delivery Trucks ZF autonomous EV venture names first customer Magna’s new MAX4 self-driving platform offers autonomy up to Level 4 Groupe PSA’s safe and intuitive autonomous car tested by the general public Mitsubishi Electric to Exhibit Autonomous-driving Technologies in New xAUTO Test Vehicle Apple acquires self-driving startup Drive.ai Motional to begin robotaxi testing with Hyundai Ioniq 5 in Los Angeles JD.com Delivers on Self-Driving Electric Trucks NAVYA Unveils First Fully Autonomous Taxi Fujitsu and HERE to partner on advanced mobility services and autonomous driving Here’s where Tesla’s competition will get its battery cells… Panasonic (making deals with multiple automakers) LG Samsung SK Innovation Toshiba CATL BYD Volkswagen to Build Six Electric-Vehicle Battery Factories in Europe How GM's Ultium Battery Will Help It Commit to an Electric Future Ultium (General Motors & LG joint venture) GM to develop lithium-metal batteries with SolidEnergy Systems Ford, SK Innovation announce EV battery joint venture BMW & Ford Invest in Solid Power to Secure All Solid-State Batteries for Future Electric Vehicles Daimler joins Stellantis as partner in European battery cell venture ACC Renault signs EV battery deals with Envision, Verkor for French plants Nissan to build $1.4bn EV battery plant in UK with Chinese partner UK companies AMTE Power and Britishvolt plan $4.9 billion investment in battery plants Toyota's game-changing solid-state battery en route for 2021 debut Freyr Verkor Farasis Microvast Akasol Cenat Wanxiang Eve Energy Svolt Romeo Power ProLogium Hyundai Motor developing solid-state EV batteries Daimler Morrow Here’s Tesla’s Competition In Charging Networks... Electrify America is spending $2 billion building a high-speed U.S. charging network GM, EVgo partner to expand U.S. charging network Circle K Owner Plans Electric-Car Charging Push in U.S., Canada 191 U.S. Porsche dealers are installing 350kw chargers ChargePoint to equip Daimler dealers with electric car chargers GM and Bechtel plan to build thousands of electric car charging stations across the US Ford introduces 12,000 station charging network, teams with Amazon on home installation Shell Plans To Deploy Around 500,000 Charging Points Globally By 2025 Petro-Canada Introduces Coast-to-Coast Canadian Charging Network Volta is rolling out a free charging network Ionity Europe E.ON and Virta launch one of the largest intelligent EV charging networks in Europe Volkswagen plans 36,000 charging points for electric cars throughout Europe Smatric has over 400 charging points in Austria Allego has hundreds of chargers in Europe PodPoint UK charging stations BP Chargemaster/Polar is building stations across the UK Instavolt is rolling out a UK charging network Fastned building 150kw-350kw chargers in Europe Aral To Install Over 100 Ultra-Fast Chargers In Germany Deutsche Telekom launches installation of charging network for e-cars Total to build 1,000 high-powered charging points at 300 European service-stations NIO teams up with China’s State Grid to build battery charging, swapping stations Volkswagen-based CAMS launches supercharging stations in China Volkswagen, FAW Group, JAC Motors, Star Charge formally announce new EV charging JV BMW to Build 360,000 Charging Points in China to Juice Electric Car Sales BP, Didi Jump on Electric-Vehicle Charging Bandwagon Evie rolls out ultrafast charging network in Australia Evie Networks To Install 42 Ultra-Fast Charging Sites In Australia And here’s Tesla’s competition in storage batteries… Panasonic Samsung LG BYD AES + Siemens (Fluence) GE Bosch Hitachi ABB Toshiba Saft Johnson Contols EnerSys SOLARWATT Schneider Electric Sonnen Kyocera Generac Kokam NantEnergy Eaton Nissan Tesvolt Kreisel Leclanche Lockheed Martin EOS Energy Storage ESS UET electrIQ Power Belectric Stem ENGIE Redflow Renault Primus Power Simpliphi Power redT Energy Storage Murata Bluestorage Adara Blue Planet Tabuchi Electric Aggreko Orison Moixa Powin Energy Nidec Powervault Kore Power Shanghai Electric Schmid 24M Ecoult Innolith LithiumWerks Natron Energy Energy Vault Ambri Voltstorage Cadenza Innovation Morrow Gridtential Villara Elestor Thanks and stay healthy, Mark Spiegel Updated on Oct 1, 2021, 11:05 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Lockheed (LMT) is set to offer development of production engineering change proposals and retrofit engineering release reports for increasing the life of F-35 aircraft parts. Lockheed Martin Corp.’s LMT business segment, Aeronautics, recently clinched a contract involving its F-35 fighter jet program. The award has been provided by the Naval Air Systems Command, Patuxent River, MD. Details of the DealValued at $98 million, the contract is expected to be completed by February 2026. Per the terms of the deal, Lockheed will offer development of production engineering change proposals, retrofit engineering release reports, investigations and subcontractor support for investigations and qualifications to increase the life of F-35 aircraft parts.A major portion of the work related this deal will be carried out in Fort Worth, TX. The contract will serve the U.S. Air Force, Marine Corps, Navy and non-Department of Defense participants.Importance of F-35 for LMTLockheed enjoys a dominant position in the global military aircraft space with its F-35 fleet. The stealth aircraft boasts features that make it an ideal choice for many nations. The company’s constant efforts to modernize and upgrade the aircraft using advanced technologies to meet current warfare needs boost demand significantly.The F-35 program remained the largest revenue generator for the Aeronautics business unit. It also accounted for 66% of the segment’s net sales in 2022.Lockheed has delivered 944 F-35 airplanes since the program's inception, with 421 jets in the backlog as of Jun 25, 2023.  This, along with the latest contract win, boosts sales expectations for the segment.Looking ahead, LMT expects to deliver 97 jets in 2023 and more than the earlier projected delivery range of 147-153 in 2024. The jet deliveries for 2025 and beyond are still estimated to be 156. This should bolster the company’s revenues from the military aircraft field.Growth ProspectsAmid the widespread geopolitical tensions prevalent across the globe, nations are rapidly augmenting their defense purchase to strengthen their warfare capabilities. This has led to the increased demand for fighter jets, which form an integral part of a country’s defense products.Looking ahead, per Mordor Intelligence projections, the global military aircraft market is expected to witness a CAGR of 7.37% during the 2023-2028 period. Such projections indicate immense opportunities for Lockheed to reap the benefits of military aircraft market expansion, with its portfolio containing combat-proven jets like F-16 and F-35 fighter aircraft.Other prominent defense majors involved in the manufacturing of military aircraft are Northrop Grumman NOC, Airbus Group EADSY and Textron TXT. These stocks are also expected to gain from the military aircraft market’s growth opportunities.Since its inception, Northrop Grumman has been a pioneer in the development of manned aircraft. From fighter jets and stealth bombers to surveillance and electronic warfare, it has been providing manned solutions to customers worldwide. The company has built some of the world’s most advanced aircraft, ranging from the innovative B-2 Spirit stealth bomber to the game-changing E-2D Advanced Hawkeye.NOC’s Aeronautics Systems unit is engaged in the design, development, production, integration, sustainment and modernization of advanced aircraft systems. Meanwhile, the Mission Systems segment offers advanced mission solutions and multifunction systems like Airborne Early Warning & Control, the LONGBOW Fire Control Radar and the Scalable Agile Beam Radar.Airbus Group’s military aircraft consists of the A400M, the C295 tactical transporter, the new-generation A330 Multi Role Tanker Transport and the Eurofighter, the most advanced swing-role fighter ever conceived.The company has been providing its aircraft customers with an extended portfolio of services for more than 40 years, ranging from the training of flight and ground staff to live firing exercises anywhere worldwide.Textron’s military aircraft includes the Beechcraft T-6 training aircraft and the Beechcraft AT-6 light-attack aircraft. The company also manufactures the Beechcraft Model 18 light bomber, the T-44 and T-34 training aircraft and the T-1A jet trainer.TXT’s subsidiary, Able Aerospace Services, provides component and maintenance, repair and overhaul services in support of commercial and military fixed and rotor-wing aircraft.Price MovementShares of Lockheed have rallied 1.5% in the past 12 months against the industry’s 5.6% decline.Image Source: Zacks Investment ResearchZacks RankLockheed currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report Textron Inc. (TXT): Free Stock Analysis Report Airbus Group (EADSY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

The US Patriot surface-to-air missile system was not designed to combat vintage Russian bombs, military experts say. Non exploded Russian aviation bomb FAB-500 is seen next to a private house, amid the Russian invasion of Ukraine, in Chernihiv, UkraineREUTERS Russia's air-dropped bombs are a major threat to Ukraine's soldiers and civilians, said military experts. The heavy airplane bombs are "particularly vexing" for air defense systems built to strike lighter targets.  Modified "glider" bombs have been fitted with GPS systems. Russia's Soviet-era airplane bombs present a lethal challenge to Ukraine because they are difficult to intercept even using the most advanced air defense systems,  military experts say.Oleksiy Melnyk, from the Kyiv-based think tank Razumkov Center, said that combatting air-dropped bombs was "particularly vexing" for Ukraine.Hi-tech air defense missiles are designed to strike more lightweight targets and are ill-equipped to counter the bombs' old, heavy iron construction. The bombs' dense build and Russia's ample stocks are a significant problem for Ukraine, he said. The powerful bombs can weigh from 1,100 to 2,200 pounds.Melnyk told Insider that the "dumb" freefalling bombs are dropped from an aircraft during horizontal flights or with the plane's nose up or down. He said the plane's alignment and "altitude will further define the ballistic trajectory." The accuracy of such bombing is poor, but Melnyk said the Russians are not overly concerned about collateral damage.The 30-50-year-old bombs are still robust, Melnyk said. There sheer size means they are "not a big problem to detect, but the problem is to intercept," he said.The bombs are rarely in the air for a little more than a minute, and unlike cruise missiles or attack drones, they are hard to track, appearing as little dots on radar screens that soon disappear. This makes them a weapon that the latest air defense systems, like the much-vaunted US Patriot missiles, were not designed to combat, military experts say.Dropping the vintage bombs poses challenges to the Russian military, however. The distance from which you can strike the enemy is low, forcing aircraft to fly into the danger zone of the enemy's air defense systems. As a result, the Russians have had to adapt.Old bombs with new guidance systems deliver "devastating hits" Sappers of the State Emergency Service of Ukraine remove non exploded aviation bomb FAB-500, in Kharkiv.REUTERSRussia is modifying its simple bombs, equipping them with guidance systems to create cheap and effective substitutes for expensive guided missiles.The system is similar to the JDAM-ER kits sent to Ukraine by the US, which converts existing unguided bombs into precision-guided munitions.The vintage bombs are fitted with gliding propellers and GPS systems and fired from a longer distance. They can reach a target of 30 miles away, out of range of most of the air defense systems on the frontline. These systems are more precise, and the payloads are so huge they can wreak substantial damage.The system has been used to equip old Soviet FAB-500М-62 gravity bombs, which Russia has an abundant supply of, with a simple satellite guidance system and "wings," Insider previously reported, and fired from Su-34 and Su-35 jets."Trying to intercept these bombs isn't effective. It's not even rational. The only way out of this situation and the only way to stop it is to attack the planes that launch these bombs," said Yuriy Ignat, spokesman for the Ukrainian Air Force, per The New York Times.Hence, Ukraine's repeated insistence that it needs the US-built F-16 fighter jets in its arsenal.Melnyk told Insider the bombs show how Ukrainians "have to deal with a ruthless enemy, especially when we talk about collateral damage."Most of the damage inflicted by these bombs has been on civilian infrastructure, and most casualties have been civilians, which "produce huge psychological effects on the civilian population," he said.However, in April, the Kyiv Independent reported that the upgraded guided or gliding bombs were also being used against Ukraine's military formations to "deliver devastating hits upon Ukrainian lines and the rear front."The bombs also make economic sense to President Vladimir Putin's military planners. The guidance kit costs less than two million roubles, about $24,000, according to Russian media. By comparison, a single Russian Kalibr cruise missile is worth nearly $6.5 million."This is the evolution of the air war. They first tried cruise missiles, and we shot them down. Then they tried drones, and we shot those down. They are constantly looking for a solution to strike us, and we are looking for one to intercept them," said Lt. Colonel Denys Smazhnyi of the Ukrainian Air Force, per The New York Times.   Read the original article on Business Insider.....»»

Lockheed (LMT) is set to procure four swashplate assemblies and 28 rotary blade sleeves for CH-53K helicopters. Lockheed Martin Corp.’s LMT business unit, Sikorsky, secured a contract involving its CH-53K helicopter. The award has been offered by the Naval Supply Systems Command Weapon Systems Support, Philadelphia, PA.Valued at $21.7 million, the contract is expected to be completed by March 2029. Per the terms of the deal, Lockheed will procure four swashplate assemblies and 28 rotary blade sleeves for CH-53K helicopters.Work related to this contract will be carried out in Stratford, CT.Significance of CH-53K HelicopterCH-53K aircraft is designed to be intelligent, reliable, low maintenance and survivable in the most austere and remote forward operating bases. The helicopter has been designed and built to the exact standards of the U.S. Marine Corps and serves as the combat force’s critical land and sea-based logistics connector.With its unrivaled speed, lift capacity and maneuverability, the CH-53K can complete the most demanding mission requirements in less time with fewer sorties than other helicopters in its class.Such remarkable features have led to an increased demand for this helicopter, thereby resulting in a steady inflow of orders for LMT, like the latest one. This tends to boost the company’s revenue generation prospects.Growth ProspectsNations across the globe are increasingly focusing on enhancing their national security and investing heftily to keep their armed forces technologically advanced in order to make them capable of responding to evolving threats.In this context, it is imperative to mention that military helicopters are witnessing significant demand lately owing to their adaptability, which makes them valuable in a wide range of military operations. Modern military helicopters are equipped with advanced sensors and communication system, which provide military missions with an added advantage.Per a report from the Mordor Intelligence firm, the military rotorcraft market is likely to witness a CAGR of more than 4% during the 2023-2028 period. This should contribute to LMT’s growth prospects as the company enjoys a dominant position in the military rotorcraft market with its portfolio containing programs like Black Hawk, Seahawk and CH-53K King Stallion heavy-lift helicopters.Other defense companies that may enjoy the perks of the expanding military rotorcraft market have been discussed below.Boeing BA: The company’s military rotorcraft is renowned worldwide for its leading-edge, ready and relevant solutions that deliver proven capabilities. Boeing’s product portfolio includes combat helicopter and rotorcraft like CH-47 Chinook, AH-64 Apache, AH-6 Little Bird and V-22 Osprey.Boeing has a long-term earnings growth rate of 4%. The stock gained 52.3% in the past year.Airbus Group EADSY: It is one of the world's largest suppliers of advanced military helicopters. Its product portfolio includes the H135 combat helicopter, the H145M helicopter, AS565 MBe, H160M, H175M, H215M, H225M and a few more.Airbus’ long-term earnings growth rate is 12.4%. Shares of EADSY returned 49.3% to its investors in the past year.Textron TXT: Its Bell unit is one of the leading suppliers of helicopters to the U.S. government. In association with Boeing, this unit is the only supplier of military tiltrotor aircraft. Some of TXT’s key programs include the AH-1Z helicopter, V-22 tiltrotor, V-247, etc.Textron boasts a long-term earnings growth rate of 11.7%. The TXT stock returned 31.1% to its investors in the past year. Price MovementShares of Lockheed rose 1.1% in the previous year against the industry’s 5.7% decline.Image Source: Zacks Investment ResearchZacks RankLockheed currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Textron Inc. (TXT): Free Stock Analysis Report Airbus Group (EADSY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Immix (IMMX) gets ODD designation in the United States for lead candidate NXC-201 for the treatment of amyloid light chain (AL) Amyloidosis. Shares of clinical-stage biopharmaceutical company Immix Biopharma, Inc. IMMX gained 15.4% on Sep 21 after the company announced that the FDA has granted Orphan Drug Designation (ODD) designation for lead candidate NXC-201 for treating a life-threatening blood disorder, AL Amyloidosis.NXC-201, a next-generation CAR-T cell therapy, is being developed for relapsed/refractory AL Amyloidosis and relapsed/refractory multiple myeloma.NXC-201 is currently being evaluated in a phase Ib/IIa clinical trial, NEXICART-1 (NCT04720313). The candidate is being developed by Immix’s subsidiary, Nexcella, Inc.The ODD is generally granted to drugs and biologics that are intended for safe and effective treatment, diagnosis or prevention of rare diseases or conditions that affect fewer than 200,000 people in the United States. The designation encompasses certain benefits, like financial incentives, to support clinical development and the potential for up to 7 years of market exclusivity in the U.S. upon regulatory approval. It also includes a waiver of the prescription drug user fee (currently at almost $3 million for a new drug).Per Grand View Research, the amyloidosis market, a life-threatening blood disorder, is expected to reach $6 billion in 2025.Initial response rates of 92% and 100% have been observed from the NEXICART-1 study in patients with multiple myeloma and AL amyloidosis, respectively.The successful development and commercialization of NXC-201 will be a significant boost for the company.Last month, the FDA granted ODD for NXC-201 for treating multiple myeloma (blood cancer).Shares of the company have surged 50.7% in the year so far against the industry’s decline of 14.7%.Image Source: Zacks Investment ResearchThe company is also developing a novel class of Tissue Specific Therapeutics ("TSTx”) in oncology and immune-dysregulated diseases. Immix’s lead TSTx asset, IMX-110, is a TSTx with TME Normalization, a technology that Immix is developing initially for soft tissue sarcoma. In addition, Immix is developing IMX-111, a Tissue-Specific Biologic built on its TME Normalization Technology for the treatment of advanced colorectal cancer.IMX-110 has also been granted Rare Pediatric Disease Designation by the FDA.Zacks Rank and Stocks to ConsiderImmix Biopharma currently carries a Zacks Rank #4 (Sell).Some well-placed stocks in the industry are Eton Pharmaceuticals ETON and Dynavax Technologies DVAX. Eton currently carries a Zacks Rank #1 (Strong Buy) and Dynavax carries a Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.Loss estimates for Eton for 2023 have narrowed to 10 cents from 31 cents in the past 60 days, while earnings estimates for 2024 are pegged at 26 cents per share.Loss estimates for Dynavax for 2023 have narrowed to 23 cents from 56 cents in the past 90 days, while earnings estimates for 2024 are pegged at 3 cents per share. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dynavax Technologies Corporation (DVAX): Free Stock Analysis Report Eton Pharmaceuticals, Inc. (ETON): Free Stock Analysis Report Immix Biopharma, Inc. (IMMX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

US airmen have shown they can drop missiles from cargo planes and hit a target. Now they're looking for other things to do it with. A C-17 drops a pallet of simulated cruise missiles during a test.US Air Force US Air Force officials say they pursuing a plan to drop "palletized effects" from cargo planes. The "effects" those planes drop could be long-range cruise missiles or other sensors and jammers. It's been noticed by China's military, which likely sees it as "a credible threat," one expert said. The US Air Force is moving quickly to equip its cargo aircraft to drop long-range weapons, seeking to expand the number of aircraft that it can use to launch strikes.Air Force officials say that their workhorse C-17 and C-130 aircraft can carry payloads similar to those of bomber aircraft and operate from a wider range of bases, which would make it harder for rivals, chiefly China, to track and destroy them.In a series of tests since early 2020, the Air Force Research Laboratory and Air Force Special Operations Command have dropped pallets of real or simulated cruise missiles from cargo planes to see if they could deploy and strike a target.The project is known as Rapid Dragon, and Air Mobility Command, which oversees the service's cargo and tanker fleets, is now looking to widen the effort.US special-operations airmen and riggers prepare a Rapid Dragon palletized weapon system at Hurlburt Field in Florida in December 2021.US Air Force/Staff Sgt. Brandon EsauDuring a landmark exercise in the Pacific this summer, a C-17 deployed a Joint Air-to-Surface Standoff Missile-Extended Range cruise missile, which has a range of about 600 miles, and it "absolutely serviced a target and was extremely, extremely successful," Gen. Mike Minihan, who leads Air Mobility Command, said this month.Minihan said "palletized effects" could include much more than just "kinetic effects" like missiles."Imagine not only can we service a target but we could deploy a decoy, we could put out a jamming sensor, we could put out a sensor that could find a radio and provide search-and-rescue. All those things, I think, are on the table," Minihan told reporters on September 11 at the Air and Space Forces conference, held outside Washington DC.The head of Air Force Special Operations Command, Lt. Gen. Tony Bauernfeind, echoed Minihan a day later, telling reporters that his command was "continuing to expand" what could be dropped."What else can we put in the back of the aircraft? There's other kinetic effects, non-kinetic effects, jammers, that if it can fit in the back and can be air-launched" then it could be employed to deliver "decisive effects," Bauernfeind said.US special-operations airmen load a Rapid Dragon palletized weapon system on an MC-130J at Hurlburt Field in December 2021.US Air Force/Staff Sgt. Brandon EsauMinihan and Bauernfeind stressed that they weren't looking for their aircraft to assume the role of bombers but to expand the number of aircraft that could perform similar missions."What I'm not trying to do is become Global Strike Command, but I have to carry those munitions anyway," said Minihan, whose command would move weapons and supplies between Air Force bases during a conflict.Bauernfeind said the goal was "multiplication" of what Air Force bombers already do, "because we know that the future war-fight that numerous targets will need to be held at risk in a very short amount of time."A commentary article in a Chinese military publication indicates concern that they could accomplish that.The article was published on November 22, 2022 — two weeks after a Rapid Dragon test off the Norwegian coast — in China National Defense News, "a sister publication of the PLA Daily, the mouthpiece of the Chinese Communist Party's Central Military Commission," Derek Solen, a senior researcher at the US Air Force's China Aerospace Studies Institute, wrote in an analysis in December.The article was published in the outlet's Science and Technology section, which "tends to publish straight news," Solen wrote. Previous Chinese commentary cited challenges to Rapid Dragon, including the availability of cargo aircraft and the effectiveness of the JASSM-ER missile, but the November article "was almost alarmist" in its assessment of the program's benefits, Solen wrote.An MC-130J drops a palletized munitions system during a live-fire test in Norway on November 9, 2022.US Air National Guard/Tech. Sgt. Brigette WaltermireThe Chinese author notes that US cargo planes could carry a large number of missiles and would be hard to track, as they could pick up pre-positioned palletized missiles while performing other duties and then launch them from "just outside a defensive perimeter.""One can predict that once it is armed with palletized munitions, the agility of the US military's distributed method for strike missions and the suddenness of those strikes will increase immensely," the author wrote, according to Solen.The author credited Rapid Dragon with "cost effectiveness," as using cargo aircraft to drop weapons is cheaper than building more bombers and that militaries without bombers could quickly add the capability to their cargo planes — both features that Minihan and Bauernfeind highlighted."When it comes to palletized effects, I'm not looking for big modifications. That's an example of what a basic air-drop crew can do," Minihan told reporters. "I just need to make sure my crews are trained to get it out of the airplane safely and precisely."While many US allies and partners don't have bombers, Bauernfeind said, "they have mobility platforms, and so these mobility platforms can leverage like-capabilities." (Bauernfeind's predecessor said last year that the capability was "easily exportable.") Japan's military is now reportedly considering using its cargo planes to drop missiles.A palletized effects system in the air during a live-fire test in Norway in November 2022.US Air National Guard/Tech. Sgt. Brigette WaltermireSolen wrote that the November article is likely close to the consensus view within China's military, which likely sees the program "as a credible threat."While Chinese officials may be concerned, US commanders say more is to be done to ge the most out of the program. As the Air Force focuses on expanding its ability to operate from more remote and austere airfields — part of a broader effort to dodge Chinese attacks — it faces additional logistical challenges, including for storing and distributing palletized munitions.Ensuring that the air crews launching those munitions can coordinate with other forces is also key to using them successfully, according to Minihan, who said "connectivity is absolutely king to these palletized effects.""Having that situational awareness of where the red team is and the blue team is is incredibly paramount," added Minihan, who said his goal is to equip 25% of US mobility aircraft with affordable, easy-to-install gear to improve their crews' situational awareness and better connect them to other units and to do so by 2025.Both commands are now "in lockstep" on the effort and more tests may be coming, Bauernfeind said."I have at least three theater special-operations-command commanders asking us how we can demonstrate that capability in their regions to help them," Bauernfeind said. "We're working through those conversations as we go right now."Read the original article on Business Insider.....»»

General Electric's (GE) unit, GE Vernova's Hydro Power business, has upgraded the first of six Kaplan turbine and generator units at Qairokkum plant, setting the stage to produce more green energy. General Electric Company’s GE unit GE Vernova’s Hydro Power business has completed upgrading the first of six Kaplan turbine and generator units at the Tajikistan-based Qairokkum hydropower plant.GE Vernova is the combined operations of GE Digital, Renewable Energy and GE Power. Its Hydro Power business creates state-of-the-art technologies, which use the power of water to deliver reliable energy to some of the world's largest economies and remote communities.The Qairokkum hydropower plant was built more than 60 years back on the river Syr Darya. It is the only power plant situated in the northwestern province of Sughd region. The hydropower plant has been the sole source of electricity for about 500,000 residents in the territory. General Electric and Barki Tojik (a national integrated power company of Tajikistan) has been selected to renovate the six Kaplan units of the Qairokkum plant. Together with Cobra - a division of ACS Group - GE will rejuvenate the hydropower plant. General Electric will act as the leader of this consortium. The scope of work encompasses the upgradation of the six turbines and generators, other plant upgrades and on-site supervision for the equipment supplied.The first Kaplan unit, which previously had a capacity of 21 megawatts (MW), has been upgraded to 29 MW, setting the stage to produce more green energy. The other five units will also undergo a similar transformation, boosting the collective capacity of the plant to 174 MW. The overhaul activities will extend the Qairokkum plant’s lifetime and will boost its capacity to deliver cleaner and sustainable energy to the country.General Electric Company Price General Electric Company price | General Electric Company QuoteThe complete modernization of the Qairokkum hydropower plant is expected to end by mid-2025.Zacks Rank & Other Stocks to ConsiderGeneral Electric currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked companies are discussed below:Caterpillar Inc. CAT presently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.CAT’s earnings surprise in the last four quarters was 17.8%, on average. In the past 60 days, estimates for Caterpillar’s earnings have increased 10.5% for 2023. The stock has gained 63.4% in the past year.Ingersoll Rand Inc. IR presently sports a Zacks Rank of 1. IR’s earnings surprise in the last four quarters was 14.9%, on average.In the past 60 days, estimates for Ingersoll Rand’s earnings have increased 3% for 2023. The stock has gained 45.1% in the past year.Eaton Corporation plc ETN currently carries a Zacks Rank of 2 (Buy). The company delivered a trailing four-quarter earnings surprise of approximately 3%, on average.In the past 60 days, estimates for Eaton’s earnings have increased 3.9% for 2023. The stock has soared 58.9% in the past year.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report General Electric Company (GE): Free Stock Analysis Report Caterpillar Inc. (CAT): Free Stock Analysis Report Eaton Corporation, PLC (ETN): Free Stock Analysis Report Ingersoll Rand Inc. (IR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Key Points Beauty stocks have not been pretty this year. Cosmetics retailer Ulta Beauty Inc. (NASDAQ:ULTA) and Estee Lauder Co. ... Read more Key Points Hims & Hers provides a telehealth wellness and beauty platform offering medical consults, sexual health products, and over-the-counter and prescription medications conveniently and discreetly. Hims is in hypergrowth mode, with revenues rising 83.1% and subscriber growth rising 74% YoY and expanding into the red-hot weight management segment offering GLP-1 agonist drugs by the end of 2023. The Beauty Health Company stock jumped 12% as insiders bought over 100,000 shares in the open market. 5 stocks we like better than Hims & Hers Health Beauty stocks have not been pretty this year. Cosmetics retailer Ulta Beauty Inc. (NASDAQ:ULTA) and Estee Lauder Co. (NYSE:EL) shares are trading down 12.3% and 38.7%, respectively. The performance is downright ugly compared to the 20.2% gain in the benchmark S&P 500 index for 2023. Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. While beauty stocks were the darlings of Wall Street during the post-pandemic reopening, posting record top and bottom lines, they have soured in 2023 as normalization continues to kick in like a bad hangover. As we move down the list to niche beauty and wellness companies, two low-priced stocks may finally be nearing a bottom as fundamentals improve. His & Hers Health Originally marketed to sell erectile dysfunction (ED) medication and sexual health products through a telehealth platform, Hims & Hers Health Inc (NYSE:HIMS) has expanded its scope to include wellness and beauty care products. It offers over-the-counter and prescription medication for hair loss, birth control, anxiety and depression, anti-aging and skincare. It also offers primary care services ranging from sick visits to annual physicals, virtual visits and prescription refills. Mental health services include therapy, medication management and psychiatry. It offers a network of over 600 licensed medical providers, averaging less than 24 hours between visits to treatment and providing a 24/7 convenient way to access healthcare services. The platform is expanding to new categories, including cardiovascular health and weight management. Hims plans to roll out its weight management services, which will provide GLP-1 agonist weight-loss drugs by the end of the day. Hyper Growth Mode Hims continues to grow with 74% subscriber growth, 83% revenue growth and 12% adjusted EBITDA margin YoY growth. The company reported Q2 2023 earnings of a 3-cent EPS loss, beating consensus analyst expectations for a 5-cent EPS loss by 2 cents. Revenues surged 83% YoY to $207.91 million, beating $204.95 million analyst estimates. Subscribers grew 74% YoY to 1.3 million, with expectations of 2 million by year's end. Adjusted EBITDA has grown 12% YoY. The company has no debt. Raised Guidance Hims raised its Q3 2023 revenue guidance to $217 million to $222 million versus $213 million consensus analyst estimates. It raised full-year 2023 revenues of $830 million to $850 million, from previous guidance of $810 million to $830 million, versus $830.75 million consensus analyst estimates. Hims Co-Founder and CEO Andrew Dudum commented, “This increasingly powerful flywheel model gives us confidence in our ability to achieve and surpass our 2025 target of at least $1.2 billion in revenue and over $100 million in adjusted EBITDA. Indeed, we believe the strength and composition of revenue and overarching durability of the model we're building are pointing towards many years of robust growth and increased profitability ahead.” His & Hers Health analyst ratings and price targets are at MarketBeat. Find Hims & Hers Health peers and competitor’s stocks with the MarketBeat stock screener. Daily Descending Triangle Breakdown The daily candlestick chart on HIMS illustrates the descending triangle breakdown as shares collapsed on the flat-bottom horizontal trendline support at $8.08 on its Q2 2023 earnings report. This started a selling spree that has continued to fall to the low 6s. The daily relative strength index (RSI) oscillator fell under the oversold 30-band but is attempting to stall. The daily market structure low (MSL) triggers a breakout through $6.42. Pullback supports are at $6.01, $5.56, $5.30 and $5.02. The Beauty Health Company As the stock symbol hints, the Beauty Health Co (NASDAQ:SKIN) sells skin care products and services. It's built a community of estheticians and professionals who personalize skin care in over 90 countries. Its flagship product brand, Hydrafacial, is a hydra dermabrasion machine that lets estheticians provide facials charging between $150 to $250 per session. The machines can range in price from $10,000 up to over $30,000 for the HydraFacial Elite machine. They also market SkinStylus micro-needling and Keravine scalp health. The Beauty Health Company also sells various serums and supplies for its machines depending on the types of treatment. The company has an installed base of 29,682 Hydrafacial devices as of the first half of 2023, up 29% YoY. The average delivery system selling price rose 3% YoY to $22,900.  Growth Continues Beauty Health reported its Q2 2023 earnings report on Aug. 9, 2023. The company had 3 cents per share in profits, short of the 5 cents per share analyst estimates. Revenues rose 13.5% YoY to $117.5 million, beating $114.5 million analyst estimates. While the company enjoys double-digit growth, its gross margins have taken a hit, falling to 64.8% in Q2 2023, down from 71% in Q2 2022. The margin drop was attributed to an unfavorable mix shift to refurbished systems and duplicative product costs. Net loss fell to $3.4 million from $6.3 million in the year-ago period. Adjusted EBITDA rose to $17.8 million, up 15.1% versus $14.6 million in Q2 2022. Nearly half the systems sold eight to 10 years ago are still active. CEO Insights The Beauty Health Company CEO Andrew Stanleick remarked that consumer engagement was strong with 34% YoY increased volumes in strong consumables net sales to $51.9 million—continued strength in EMEA and APAC. China had 167% YoY net sales growth. The company is bouncing back from the Syndeo US launch issues, which also impacted gross margins in the quarter. At its own costs, the company exchanged Syndeo devices to protect relationships at a cost to gross margins. They have “greatly” reduced system exchanges. CEO Stanleick commented, “I am pleased to say we have greatly reduced system exchanges. Today, with the changes I initiated, we are equipped to address issues with over-the-air software updates or in-field support. And we have identified simple component upgrades to enhance the system's durability, and we have begun to replace these components in existing devices in the field.” He expects to target 500 basis points of gross margin expansion by the end of 2025. Reaffirms 2023 Outlook The company reaffirms its outlook for full-year 2023 revenues of $600 million to $700 million. Adjusted EBITDA is expected to be from $18 to 19% or $83 million to $91 million. The company plans to expand in China as 41% of consumers are expected to spend on health and beauty products. China generated $23.8 million in the first half of 2023. August Insider Buying On Aug. 18, 2023, filings showed insider buying of SKIN shares by members of its Board totaling over $630,000. Chairman Brent Saunders added 59,000 shares for a stake of 6.9% of outstanding shares. Board member Michael Capellas bought 30,000 shares, and board member Doug Schillinger bought 33,000 shares. The new CFO, Michael Monahan, added 5,000 shares for her 0.27% stake in the company. CEO Stanleick added 16,000 shares for a 0.53% stake in the company. The Beauty Health Company analyst ratings and price targets are at MarketBeat. The Beauty Health Company peers and competitor’s stocks with the MarketBeat stock screener. Daily Descending Trading Channel The daily candlestick chart on SKIN illustrates the daily descending trend channel, which is responsible for the 27% drop in price for 2023. Each bounce peaks at lower highs, and each fall bottoms at lower lows. The daily MSL triggers above $7.23. The daily RSI is attempting to bounce off the 50-band. Pullback supports are at $6.20, $5.77, $5.28 and $5.00. Should you invest $1,000 in Hims & Hers Health right now? Before you consider Hims & Hers Health, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hims & Hers Health wasn't on the list. While Hims & Hers Health currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys......»»

"Disney adults" used to be the butt of the joke. Now millennials and Gen Z-ers without kids are flocking to Disney Parks and spending big on meals, merch, and experiences. Insider spoke to more than 20 people from parks visitors to employees and travel agents to understand why Disney parks have become the hottest destination for monied millennials without kids.Arantza Pena Popo/Insider Child-free millennials and Gen Z-ers are now as commonplace at Disney Parks as families with kids. Disney plans to invest $60 billion in the parks over the next decade, the Wall Street Journal report. We spoke to over 20 people, including company insiders, about the impact of 'Disney adults' on the parks. Since the start of 2023, Sarah Rachul, a public-relations professional who lives in Ohio, has logged more than half a dozen trips to Disney parks, including Walt Disney World in Orlando, Florida, and Disneyland in Anaheim, California.Her target? Ten Disney trips by the year's end."It just melts away some of the stress. I'm not looking around my house going, 'Oh, I have to clean that,' or 'I have to sort that.' I'm not thinking about my job. I'm just in this cool, fake, around-the-world walk," 29-year-old Rachul said of her impromptu visits to Epcot, usually with a cocktail in hand as she strolls through the world showcase with its pavilions modeled after countries from Italy to China. Rachul's parents, members of the Disney Vacation Club, a timeshare program, accompany her on some visits, helping make the trips more affordable than, say, a vacation to Tuscany. When she turns 30 next year, Rachul and her boyfriend are already set to ring in her third decade aboard a Disney cruise. Rachul is one of a growing share of 20- and 30-somethings without kids who are packing into Disney parks, particularly Walt Disney World in Orlando — frequently making these often-lavish trips as couples or in groups of friends. That's according to interviews Insider conducted with more than 20 people, ranging from annual pass holders to current and former Disney employees (most of whom requested anonymity to speak freely about company business and policies) to travel agents and others familiar with foot traffic at the parks.Collectively, they painted a picture of an undeniable demographic shift that could have big implications for Disney's parks' business, from an influx of consumer dollars — childless earners tend to have more disposable income than parents — to an impact on in-park rides and experiences. It comes as Disney is investing in parks in a major way over the next 10 years, with the Wall Street Journal reporting Tuesday — citing a regulatory filing — that the entertainment giant will pour some $60 billion into the parks division, which also encompasses cruises and merchandise. Disney also posted a blog about the plan.The phenomenon is also eroding the stigma surrounding the "Disney adult," a term that in recent years has been used to poke fun at grown-ups with a tendency to display their die-hard devotion to the Mouse House. One Urban Dictionary entry defined a "Disney adult" as a millennial who "can't stop talking about Disney" and is "one of the most terrifyingly intense people you'll ever encounter." But the idea of donning a pair of Mickey ears or "DisneyBounding" — dressing for park visits in outfits inspired by famous Disney characters — is becoming more mainstream, and perhaps even cool, for more and more kidless millennials and Gen Zers. Disney's not just for hot, tired parents chaperoning their kids from character breakfasts to rides on Aladdin's magic carpets anymore."It's two hours away, but it's an escape," said Molly May, a 38-year-old mental-health counselor based in Florida, who, along with her husband, has held an annual Disney World pass for several years. The couple got engaged there, celebrated their five-year anniversary at Disneyland, and visited Disneyland Paris earlier this year. They're planning to commemorate 10 years with a visit to Tokyo Disneyland."The responsibility I have as an adult," May added, "disappears as soon as I walk through the gate."Francis Dominic, a social-media creator, previously worked for both Disney World and Disneyland in various roles, including as a tour guide, for four years beginning in 2014. Now he creates Disney-themed content, much of which is focused on park tips and experiences, for his audience of more than 108,000 followers on TikTok. "I hear from every single age group, from 80s all the way to teens, of just people ready to have so much fun in these parks and being so unapologetic about it," Dominic, 30, said."As millennials growing up, we were teased about loving certain princesses or certain things," he added. "Now it's more of like an 'I don't give a fuck' moment."Francis Dominic is a former Disney Parks employee who's built a robust following on TikTok creating Disney-themed content about attractions and films.Taylor Jaxson PhotographyOn a given day, 40% to 50% of parkgoers at Disney World could be child-free adults, a former parks executive saysThe trend has emerged at a time of manifold pressures for The Walt Disney Company, from a share price that's fallen more than 25% over the past year to a recent Wall Street Journal report suggesting that traffic to the Florida parks dwindled this summer. Meanwhile, rising ticket prices, coupled with soaring inflation, could be deterring some parks visitors. In the last year, 93% of respondents in a consumer survey agreed that the cost of a Disney World vacation had become untenable for "average families," and a popular Disney travel blog estimated that a "baseline" five-night trip for family of four to the Orlando parks could exceed $6,300.On top of that, throw in a monthslong political battle with Florida Gov. Ron DeSantis — which led Disney to scrap plans for a new $1 billion campus near Orlando that would have created roughly 2,000 jobs — as well as a looming threat from its crosstown rival Universal, which will open its fourth Orlando theme park in 2025, and it's clear there are challenges ahead for Disney Parks.But in the face of all this, Disney World appears to be accelerating efforts to lure adult visitors, including pricey experiences that seem less likely to appeal to families.In recent months, its Epcot theme park has introduced $250-a-person omakase dinners at the Japan pavilion's Takumi-Tei restaurant, for instance, burnishing the rite of passage known as "Drinking Around the World." It's a favorite pastime for Epcot visitors over the age of 21 who get tipsy shuffling from one country pavilion to the next, ordering internationally inspired cocktails or sipping flights of spirits at venues like the Mexico pavilion's La Cava del Tequila bar. Along with that dining glow-up, multiple high-tech rides have debuted since last year, as well as a fresh slate of holiday experiences lined up for this winter. "You can see Disney is pushing to be competitive for that adult, thrill-seeking group," Jonathan de Araujo, the founder of the Disney-authorized travel-planning service The Vacationeer, told Insider. A Disney spokesperson declined to comment for this story, and company insiders say obtaining data about any aspect of the business — such as foot traffic — can be opaque (the Journal's reporting, for example, was based on stats from the third-party company Touring Plans, which tracks wait times for rides). But, according to a former Disney executive with close knowledge of Disney World, between 40% to 50% of typical crowds at the Orlando parks are composed of adults visiting without children — people the executive categorized as "nonfamily."That number is "astonishing when you think about it," the executive, who worked in travel marketing, said, "because it's not the perception that people have." And that stat has been on a gradual uptick for several years, this person and others familiar with Disney World's foot traffic said.Tara Goldstein and Ann van Oostendorp, independent travel planners who specialize in Disney trips and call themselves the "Magic Planning Sisters," told Insider that between mid-2020 and 2023, 53% of the Disney vacations they planned were for adults only. They attributed much of the shift to the advent of hot rides — like a cutting-edge roller coaster themed after the tentpole "Guardians of the Galaxy" franchise, for example — that appeal to an older audience. "Disney knows the kids want to go," van Oostendorp said. "Now it's time to bring in the adult population."From weddings to special meals, millennials without kids are bringing disposable income to the parksTwenty-three-year-old Natalie Schwartz remembers all the visits she and her boyfriend, Brett, made to Disney World as students at the University of Tampa. "I just always have had this little-girl dream of getting married there," Schwartz told Insider several weeks after her June wedding, a nearly 120-person affair at Disney World's Grand Floridian resort. Among the perks were discounted park tickets the couple could share with more than a dozen friends, and together they spent two days venturing through the parks ahead of the ceremony. Schwartz also took her grandmother on the It's a Small World ride.This summer, Schwartz returned to Disney World to celebrate her friend Sierra Keller's 24th birthday. "Disney kind of just transports us somewhere else," said Keller, who now lives about 10 minutes from the parks in a home her family built specifically to be close to Disney. "You're not worried about elections. You're not worried about laws passing or what tomorrow's going to look like, or how many bills do I need to pay or anything. You're just in that moment and you get to kind of be carefree."Newlyweds Natalie and Brett Schwartz exchanged vows at Walt Disney World in Orlando this summer.Disney Fine Art PhotographyThe growing share of visitors like Schwartz and Keller has "slowly influenced the product choices" within the parks, the former Disney travel marketing executive said. Ultimately, the groups bringing new spending are "going to drive those decisions," this executive added. "If you look at it and you say, 'Hey, we're going to continue to do baby rides,' it's like, 'Well, wait a minute — do we really need those? Don't we have that?'"In 2021, Epcot added Space 220, an upscale restaurant designed for the Instagram age. The decor could only be described as interstellar chic — think big bay windows overlooking a simulated image of the Earth. Jason Petrina, the restaurant's general manager, told Insider he's seen more adults without kids — couples, friend groups — coming in lately, noting that many are local annual pass holders or members of Disney's timeshare program. He's gotten to know some regulars by name."They're not really concerned about spending money as long as they get a great experience," Petrina said. And that could mean springing for premium wines or lavish dishes like rib-eye steaks or lobster. He estimated that 15% to 20% of the restaurant's income stems from this group — "a huge piece of our business," he said. "If you're down 15 to 20% in sales, you might close."Drinking with mates or boozing with Mickey? How Disney's parks and retail experience is evolving.Inside the parks, signs of Disney's efforts to satisfy an older crowd — the same group it has lured to cineplexes with its investments in the Star Wars and Marvel franchises — seem ubiquitous. One of the most obvious examples is the Guardians of the Galaxy: Cosmic Rewind roller coaster, which opened in May 2022 and features preshow content starring actors like Chris Pratt and Zoe Saldaña. The coaster — which launches riders backward before hurtling them into a dark, cavernous space meant to emulate the universe at the beginning of time — features songs like "September" and "Everybody Wants to Rule the World," hits likelier to perk up older ears than younger ones. This year, the Magic Kingdom added Tron: Lightcycle Run, an indoor-outdoor coaster with motorcycle-like seating. Both rides offer a far more thrill-seeking edge than stalwarts like It's a Small World.Meanwhile, Disney has said it will sunset DinoLand USA, an older corner of Animal Kingdom that featured several kid-friendly dinosaur-themed rides. Beyond that, reports in September indicated that the Magic Kingdom will debut a new tavern serving alcohol in close proximity to the Pirates of the Caribbean ride and inspired by the Disney film franchise, but the precise timeline for the project is uncertain.The parks have also extended hours through their "After Dark" events, giving late-night visitors protracted access to rides. At Disneyland in California, the Anaheim parks introduced their inaugural Pride Nites this June. And this month, three Disneyland restaurants — the Carnation Cafe, River Belle Terrace, and Cafe Orleans — began serving alcohol.Plus, the company has announced new holiday offerings at Disney World's Hollywood Studios, including a series of "Jollywood Nights" throughout November and December. The events — with ticket prices ranging from $159 to $179 per person — will feature a DJ, special cocktails, "glitz and glamor galore" at a jazz lounge, and a "soiree" at the Hollywood Tower Hotel Courtyard, the site of the Tower of Terror ride.These unique experiences are casting a spell on millennial and Gen Z wallets. "When you're here, everything feels like it's laced with magic and truly pixie dust. Sure, we'll buy $20 drinks — but if we do that at a regular bar, I'm like, 'That would be crazy.' But if it's at Disney, it's fine," said Dominic, the TikTok influencer. Beyond food and beverage offerings, high-end merch throughout the parks seems to speak to Disney's desire to capture these consumer dollars. At Hollywood Studios, sleek lightsabers like the blades wielded by iconic "Star Wars" characters such as Obi-Wan Kenobi and Emperor Palpatine retail for upward of $200. One Disney World worker said she'd witnessed tears welling up in many adults' eyes the first time they activated their laser swords.Also on the merchandise front, Disney has launched multiple capsule collections in partnership with glossy brands like Gucci, Dooney & Bourke, and Coach, emblazoning Disney iconography on everything from jeans to accessories, including a Coach backpack for nearly $600. Last year, in connection with the celebration of Disney World's 50th anniversary, merch designers from across the company worked on developing styles that would appeal to older shoppers, the former Disney travel marketing executive recalled. Many items intentionally emphasized fresh color schemes or iridescence to appeal to a customer with "more sophisticated" tastes, this former exec said.'Hey, there's a lot of adults in the parks. We haven't met a single kid today,' cast members sayDisney has had its eye on this demographic and its spending power for several years.In 2018, the company piloted a campaign called #HappyPlace, which mainly consisted of a series of videos incubated by teams at Yellow Shoes, Disney's internal advertising agency devoted to parks, experiences, and products. #HappyPlace content was geared toward child-free adults who were "definitely above the drinking age," said Neph Trejo, a creative director who worked for Disney until earlier this summer and was integral to the campaign's development.The videos showcased what a trip to Disney World without children could look like for adult friend groups — including sipping on sake and feasting on fresh gyros. One video posted to Trejo's website, called "Swag Safari," is set to a moody soundtrack and portrays a fictionalized trip to Animal Kingdom in which a handful of millennials embark on the Kilimanjaro Safari and, from a high-end hotel terrace, watch giraffes wake up."Our approach was to shine a light on the beautiful tapestry of people that come to Walt Disney World," Trejo said. "It's not just about rides. It's not just about churros. It's not just about Dole Whip," he added, referring to the parks' famous frozen-pineapple treat.Halle Bailey performs at Walt Disney World's 50th anniversary celebration in 2021.Kent Phillips/ABC via Getty ImagesEven Disney characters are fielding hugs and selfies with grown-up customers these days. One Disney World employee said lines to meet iconic characters can sometimes be made up of half or more adults without children. "We're like, 'Hey, there's a lot of adults in the parks. We haven't met a single kid today,'" this person said. "Or, 'I was just out there for an hour and I saw three kids the entire time of the two to three hundred people I met.'"But there's a darker side of this demo that's created pain points for some Disney workers. Some visitors get a thrill from performing stunts seemingly conjured to go viral on social media. On TikTok, examples are plentiful of teenagers and 20-somethings physically touching or recording cast members, asking personal questions to try to break their unflappable depictions of figures like Cinderella. One video shows a woman laying her hands on the chest of an actor playing Gaston from "Beauty and the Beast." The Disney World employee recalled a guest who broke park rules by lapping water from decorative fountains. Management has addressed the situation in private conversations with parks talent, according to the employee, who said Disney World has adopted a strict policy that its actors refrain from participating in social-media trends. "You can absolutely step away or you can ask for a leadership position to come over and chat with them if it's something that's uncomfortable," the person said, describing the company's guidance. "With the internet these days, everything you do is probably going to be put online at some point, so be aware of that. So it's definitely something they touch on in our training."Ultimately, though, the parks worker says the uptick in adult attendees is "an open road for new growth.""It's a lot easier to cater to an older crowd because you can better know their wants and needs, whereas with kids, kids don't even know what they want," this employee explained, pointing to the customer-experience surveys Disney sends visitors. "It's really the adults' opinions who they care about and who they're trying to cater to."'There is a tug of war from adult to family at times,' said a former Disney ImagineerJeremy Singh loved classic Disney movies growing up and still recalls the first time he set foot in the parks at age 12. He felt an instant connection."I knew from that first trip that I'd found my thing," he said. "I wanted to know more about it, how it came to be, how everything worked."But even Singh couldn't have predicted that a decade later, he'd have relocated to Orlando, where his fascination with theme parks would blossom into a career. Now, as a content creator focused on Disney World, Singh, 23, has amassed a million followers on his JeremyTheTea TikTok page, and has been hired by Disney in what he said is a bid to reach this prized young-adult demographic."I know that when I'm called to do these things, they're probably trying to get to that audience," said Singh, noting that his primary following ranges between 21 and 28 years old.Prior to the actors' strike, which has paralyzed the promotion of most new films by movie stars and online content creators alike, Singh helped support marketing efforts surrounding Disney's live-action "Little Mermaid" film earlier this year and attended a Disneyland performance by the movie's lead actor Halle Bailey that was broadcast on "American Idol." He's also been tapped to promote Disney's Halloween festivities, which he said would tie into the company's "Haunted Mansion" film premiere, inspired by the eponymous ride.Singh has become a leading voice within a burgeoning community of Disney-focused influencers that emerged during the pandemic years and, according to experts, has helped fuel adults' interest in the parks. A search for the term #DisneyWorld on TikTok reveals that the hashtag has been associated with content viewed some 20 billion times, while Disney Parks' own TikTok page has surpassed 5.7 million followers.Francis Dominic, the former parks worker turned influencer, has also been tapped to promote Disney parks and films. He cohosted an advanced screening of Disney and Pixar's "Elemental" this year alongside Patrick Dougall, another Disney creator who's built up a TikTok following of 380,000. Attendees — the vast majority of whom were millennials — were asked to dress as their favorite element inspired by the film.But even as Disney makes a concerted push to keep this all-important audience coming back, some warn that the parks can't afford to alienate their other vital fandom: kids."There is a tug of war from adult to family at times," said Mark Eades, a former Disney Imagineer in the 1980s and early '90s who's watched the brand evolve over the decades. Unless Disney can find an equilibrium that keeps both groups happy, Eades cautioned, "I think they'll realize, 'Uh-oh, we've left the kids at the door.'"It's a difficult tightrope to navigate, but it could define the future of Disney parks. Eades — a pass holder at Disneyland in Anaheim who sits on the board of the Disneyland Alumni Club, a group of roughly 400 former parks employees — likened the situation to the retro cartoons he loved watching growing up. He enjoyed them as a kid, and he still enjoys them now."If they can succeed in doing attractions and entertainment like that," Eades concluded, "that's when you hit it out of the park."Amanda Krause contributed reporting.Are you a Disney parks or Walt Disney Co. insider? Contact this reporter. Reed Alexander can be reached via email at ralexander@insider.com, or SMS/the encrypted app Signal at (561) 247-5758.Read the original article on Business Insider.....»»

In an era where concern for sustainability can be good business, the Starbucks disposable cup may be on its way to extinction. TEMPE, Arizona — Bethany Patton steps up to the counter and places her pink mug into a shoebox-sized dishwasher. It spins. It whirs. Water splashes inside. After 90 seconds, the door opens and steam emerges. A barista grabs the mug, dries it and prepares Patton’s order — a 16-ounce Starbucks double espresso on ice. For bringing her own cup, Patton gets $1 off her drink. [time-brightcove not-tgx=”true”] “Saving the environment is important and all, but I probably come here more in knowing that I’m going to get a dollar off,” says Patton, 27, a cancer researcher at Arizona State University. Two friends who came on the afternoon coffee run nod as they hold the cups that they, too, brought along. Just as noteworthy as what they’re carrying is what they are not: the disposable Starbucks cup, an icon in a world where the word is overused. For a generation and more, it has been a cornerstone of consumer society, first in the United States and then globally — the throwaway cup with the emerald logo depicting a longhaired siren with locks like ocean waves. Ubiquitous to the point of being an accessory, it has carried a message: I am drinking the world’s most recognizable coffee brand. Now, in an era where concern for sustainability can be good business, the Starbucks disposable cup may be on its way to extinction thanks to an unlikely force: Starbucks itself. Convenience collides with virtue By 2030, Starbucks wants to move away from disposable cups, which represent big portions of the company’s overall waste and greenhouse gas emissions. The stated reason is that it’s the right thing to do for the environment, and Starbucks has a history of lofty sustainability goals around various aspects of their global operations. Some have been met, such as new stores being certified for energy efficiency; others have been revised or scrapped entirely. For example, in 2008 the company said that by 2015 it wanted 100% of its cups to be recyclable or reusable. Today, that’s still a long way away. Today’s drive to overhaul the cup comes with an obvious business imperative. Producing disposable products like cups creates greenhouse gas emissions, which warm the planet and lead to extreme weather events and other manifestations of climate change. That goes against customers’ increasing expectations for companies to be part of the solution to climate change. Still, while customers want companies to be environmentally conscious, that doesn’t mean they’re willing to give up convenience. And there’s this: Could eliminating the millions of paper and plastic cups used each year hurt Starbucks? After all, those cups, in the hands of customers, are advertising — a market penetration that makes Starbucks feel ubiquitous. At the store where Patton gets her coffee, Starbucks already doesn’t serve any in disposable paper or plastic cups. Customers who don’t bring their own are given a reusable plastic one that can be dropped off in bins around campus. It’s one of two dozen pilots over the last two years, aimed at changing how the world’s largest coffee maker serves its java. The goal: to cut the company’s waste, water use and carbon emissions in half by 2030. Pulling that off will be tricky and fraught with risks. It provides a window into how companies go from ambitious sustainability targets to actual results. “Our vision for the cup of the future — and our Holy Grail, if you will — is that the cup still has the iconic symbol on it,” says Michael Kobori, head of sustainability at Starbucks. “It’s just as a reusable cup.” Starbucks sees the change as an opportunity to cast the siren, and the company, in a different light. It also wants to push more suppliers in its production chain to provide recycled material and partners, such as universities and other locales that house stores, to be able to handle all that comes with reusable cups. Erin Simon, vice president for plastic waste and business at World Wildlife Fund, says commitment from major companies can help. But ultimately, she says, major change can happen only with corporate collaboration and government regulation. “Not one institution, not one organization, not even one sector can change it on its own,” Simon says. At Starbucks, the changes will create ripple effects. Jon Solorzano, a Los Angeles lawyer who advises companies on developing climate-friendly operations and disclosures, (an area referred to as “environmental, social and governance”), says the company likely has hundreds of suppliers that help manufacture cups. “It’s kind of like turning an aircraft carrier around,” Solorzano says. “Little tiny tweaks, which seem insignificant, can actually have big operational challenges for an organization.” Starbucks is not the first company to push toward a reusable cup. From large companies in Europe, such as RECUP in Germany, which uses reusable cups and other food packaging, to local coffee houses in cities like San Francisco, the goal for years has been to shed disposable paper and plastic. But as the largest coffee company in the world, with more than 37,000 stores in 86 countries and revenues of $32 billion last year, Starbucks could force change across the industry. At the same time, failure to adapt and lead could hurt the coffee giant in customers’ eyes. “I’ll always choose the more sustainable company,” says Irene Linayao-Putman, a public health worker from San Diego who recently bought Starbucks while visiting Seattle. The road to overhauling the container transcends just making a different choice or spending money. Improving sustainability requires navigating a web of technological developments, seeking out like-minded suppliers and testing how far customers can be pushed to change. For Starbucks, it means doing two major things in parallel that seemingly conflict: Move toward only reusable cups while developing disposable cups that use less material and are more recyclable. And managing the optics along the way. “They are just trying to get more buyers,” 10-year-old Aria June said with a laugh after buying Starbucks in Seattle. Then, prodded by her father, she added that sustainability and getting more business could co-exist. The mechanics of reuse At the Arizona State store, if customers don’t bring their own cup, they are given a reusable plastic one with a Starbucks logo. If they bring it back, they get $1 off, just like customers who bring their own. And if they don’t want to hold onto it? There are bins around campus, and the cups are washed by the university — part of a partnership with Starbucks — and returned to the store. Cups too damaged to be reused, along with disposable Starbucks cold drink cups and other plastic found in the trash, are sent to the university’s Circular Living Lab. They’re shredded, melted and extruded into long, lumber-like pieces. Those pieces are cut, sanded and built into boxes, which become the return bins for the reusable cups. “This obviously has some energy and production costs, but using recycled content is always going to be less energy intensive (and) emit less CO2 than using virgin plastics,” says Tyler Eglen, the lab’s project manager. For several years, Starbucks has been increasing the amount of recycled material in disposable paper cups. In some markets last year, Starbucks began using single-use paper cups made with 30% recycled material, an increase from 10%. The plan is to have all cups at 30% recycled material in in all U.S. stores starting in early 2025. That pushes the limits of what can be done with recycled paper material that holds hot liquids. Paper pulp from recycled cups has shorter fibers than virgin pulp, which means less rigidity, important particularly with hot coffee. How much recycled material can be used in manufacturing new cups depends on how equipped any particular area is to gather material and recycle it. Big cities have major recycling infrastructure, but many communities around the world have little to no recycling capacity. Another barrier: the lining inside the cup, crucial to keeping a hot liquid from quickly breaking down the paper. Made of polyethylene, a heat-resistant plastic, the liner is about 5% of the total cup but a significant piece of its overall carbon footprint. There is also the plastic lid. “Today, the reality is that for protection, as we put a hot beverage inside, we need a good seal on those cups,” says Jane Tsilas, Starbucks’ senior manager for packaging. A similar testing and refining process is happening with disposable cold-drink cups. At the Tryer Center innovation lab in Starbucks’ Seattle headquarters, drinks with ice in plastic cups are placed in holders attached to a platform. It then shakes as technicians look for leaks and flaws. For the last several years, Starbucks has been testing different kinds of plastics. In 2019, the company went to a strawless lid, eliminating a good amount of plastic. By the end of 2023, the goal is to reduce by 15% the amount of material in each cup. To do that, technicians examine different parts of the cup to see where less material may be used without weakening it. For example, could reducing the thickness where many people hold the cup, about halfway between the middle and lid, mean the cup collapses and the drink spills on the customer? “If it passes tests with baristas, then we would put it in the stores,” says Kyle Walker, a packaging engineer on Starbucks’ research and development team. Not as easy as it might seem Eventually, the endpoint is this outcome, which is more sustainable and good PR, too: No more disposables at Starbucks. That’s because no matter the tests or technological innovations, there are limits to how much waste can be reduced with disposable paper and plastic cups. Long-term reductions in waste will come from reusable cups. The company has a long way to go. Since the reintroduction of reusable cups in some stores in July 2021 — reusable cups were not used during much of the COVID-19 pandemic — only 1.2% of worldwide sales in fiscal year 2022 came from reusables. Starbucks refused to provide data on how many disposable cups it uses in any given year. For all the talk of sustainability and increasing consciousness about climate change, it’s fair to assume that a significant number of Starbucks’ disposables end up in landfills. Even in Seattle, a progressive city with good recycling infrastructure, there are many cups in garbage cans outside Starbucks stores. Valencia Villanueva, a barista at the Arizona State store, has noted a growing consciousness among customers about the cup-washing machine and the “borrowed” cup program. That gives her confidence that the future is reusable cups. After all, it’s not as if anyone is clamoring to be wasteful — even if what they’re giving up is an item that became something of a global status symbol. “Nobody,” she says, “has complained and said they wanted a single-use cup.”.....»»

The successful market debut of Arm could pave its entry into a handful of ETFs due to the inclusion rules. British chipmaker Arm Holdings Plc made a strong debut on Nasdaq under the symbol ARM on Thursday. The stock soared as much as 21% on the first day, pushing the market cap to more than $65 billion. The chip designer, which is owned by SoftBank Group Corp., sold 95.5 million American depositary shares for $51 a piece, raising $4.87 billion in its initial public offering that valued the company at more than $54.5 billion. This is the most high-profile IPO that the Nasdaq has seen since 2021’s IPO boom, which cycled into a bust in 2022, and is the biggest U.S. initial public offering of the year. Buying Binge Debut Arm Holdings sizzled with its debut drawing significant attention from retail traders. Data from Fidelity’s trading platform revealed that the chip designer led in buy orders on Thursday, accumulating over 20,000 purchase requests. This demand overshadowed popular retail choices such as Tesla TSLA and Nvidia NVDA. Fidelity’s statistics reflect the aggregate order count placed by its self-directed retail client base. According to Yahoo Finance data, Arm was the most-traded stock on Thursday, with 108 million shares trading hands. Retail trader platform Stocktwits also highlighted Arm’s ticker as trending, further indicating the company’s growing appeal among individual investors. This increased retail appetite serves as a testament to the enthusiasm of smaller traders eager to invest in promising contenders within the booming AI sector. After a lull in the IPO market over the past two years, Arm’s successful debut signals potential for more tech-based offerings in the near future. Arm: A Good Bet? Arm is defining the future of computing and is the industry leader in CPUs. It architects, develops and licenses high-performance, low-cost, and energy-efficient CPU products and related technology, on which many of the world’s leading semiconductor companies and OEMs rely to develop their products. Arm CPUs run the vast majority of the world’s software, including operating systems and applications for smartphones, tablets and personal computers, data centers and networking equipment, and vehicles, as well as embedded operating systems in devices such as smartwatches, thermostats, drones and industrial robotics. The chipmaker has built a highly profitable business with dominance in the mobile device market. It has more than 99% of the smartphone market but lags in the fast-growing cloud computing market, with just 7% share. Arm’s revenues dipped slightly to $2.68 billion in its fiscal 2023 ended Mar 31 amid weak smartphone sales. The British chipmaker is poised to benefit from the demand for artificial intelligence chips and generative AI. This industry shift has given Nvidia a market value of more than $1.1 trillion. In its IPO filing, Arm said that it has room to grow beyond just smartphones and wants to design more chips for data centers and AI applications. It expects the total market for chip designs to be worth about $250 billion by 2025. Arm currently gets 63% of its revenues from royalties and 37% from licensing. Royalties enable Arm to get a payment per chip sold. Licensing involves giving customers access to its portfolio of intellectual property for developing Arm-based processors. However, the current valuation of the British chip company seems too high. At a $60 billion valuation, Arm’s price-to-earnings multiple is over 110 based on the most recent fiscal year profit. This is higher than that of Nvidia, which is trading at 108 times earnings. Additionally, Arm’s large exposure to China, which comprises roughly 25% of its revenues, is another headwind. China’s economy is facing increased risks of a broader economic slowdown and lowering demand amid the economic war with the United States escalating to new levels, especially in the chip industry. How to Bet? The successful market debut of ARM could pave its entry into a handful of ETFs due to the inclusion rules. Since Arm is not a U.S. company, it will be excluded from the S&P indexes. Secondly, ETFs generally require a company float of 10% or more of the shares to be eligible for inclusion. And Arm appears to have a float of roughly 9.3% of the company, according to Renaissance Capital. Renaissance IPO ETF (IPO) Renaissance IPO ETF provides exposure to the largest and most-liquid newly listed companies by tracking the Renaissance IPO Index. New companies find entry at the end of the quarter when the index rebalances. The fund currently holds 76 stocks in its basket, with double-digit exposure in the top two firms. Technology is the top sector, accounting for 52.8% share, while consumer discretionary and financials round off the next two spots with double-digit allocations each. Renaissance IPO ETF has amassed $196 million in its asset base while trading in a light volume of about 86,000 shares, probably implying additional cost beyond the expense ratio of 0.60%. First Trust US Equity Opportunities ETF (FPX) First Trust US Equity Opportunities ETF focuses on the largest, best-performing and most-liquid U.S. IPOs, and follows the IPOX-100 U.S. Index. New companies seek inclusion on a fast-entry basis after the close on the sixth day of trading. First Trust US Equity Opportunities ETF holds 103 securities in its basket, with the largest allocation going to the top five firms. The ETF is widely spread across sectors, with industrials, information technology, consumer discretionary and healthcare accounting for double-digit exposure each. First Trust US Equity Opportunities ETF has $766.2 million in AUM and trades in a volume of about 46,000 shares per day. It charges 60 bps in fees a year. Invesco QQQ (QQQ) Invesco QQQ provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. New companies seek entry at the end of the quarter when the index rebalances. Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with an AUM of $206.2 billion and an average daily volume of 46 million shares. It charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 (Buy). Invesco NASDAQ 100 ETF (QQQM) Invesco NASDAQ 100 ETF is identical to QQQ, tracking the NASDAQ-100 Index, but comes with lower annual fees of 15 bps. It holds 102 securities in its basket. NASDAQ 100 ETF has accumulated $14.6 billion in its asset base and trades in an average daily volume of 986,000 shares. It has a Zacks ETF Rank #2. NVIDIA Corporation (NVDA): Free Stock Analysis Report ARM Holdings PLC (ARM): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports Renaissance IPO ETF (IPO): ETF Research Reports First Trust US Equity Opportunities ETF (FPX): ETF Research Reports Invesco NASDAQ 100 ETF (QQQM): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research This article originally appeared on Zacks Sponsored: Tips for Investing A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit......»»

"Disney adults" used to be the butt of the joke. Now kidless millennials and Gen Z-ers are flocking to Disney World and Disneyland and spending big on meals, merch, and experiences. Insider spoke to more than 20 people from parks visitors to employees and travel agents to understand why Disney parks have become the hottest destination for monied millennials without kids.Arantza Pena Popo/Insider Childless millennials and Gen Z-ers are now as commonplace at Disney Parks as families with kids. These groups and their spending power are influencing products and experiences at the parks. We spoke to 20 people, from pass holders to Disney employees, about this trend and its effects. Since the start of 2023, Sarah Rachul, a public-relations professional who lives in Ohio, has logged more than half a dozen trips to Disney parks, including Walt Disney World in Orlando, Florida, and Disneyland in Anaheim, California.Her target? Ten Disney trips by the year's end."It just melts away some of the stress. I'm not looking around my house going, 'Oh, I have to clean that,' or 'I have to sort that.' I'm not thinking about my job. I'm just in this cool, fake, around-the-world walk," 29-year-old Rachul said of her impromptu visits to Epcot, usually with a cocktail in hand as she strolls through the world showcase with its pavilions modeled after countries from Italy to China. Rachul's parents, members of the Disney Vacation Club, a timeshare program, accompany her on some visits, helping make the trips more affordable than, say, a vacation to Tuscany. When she turns 30 next year, Rachul and her boyfriend are already set to ring in her third decade aboard a Disney cruise. Rachul is one of a growing share of 20- and 30-somethings without kids who are packing into Disney parks, particularly Walt Disney World in Orlando — frequently making these often-lavish trips as couples or in groups of friends. That's according to interviews Insider conducted with more than 20 people, ranging from annual pass holders to current and former Disney employees (most of whom requested anonymity to speak freely about company business and policies) to travel agents and others familiar with foot traffic at the parks.Collectively, they painted a picture of an undeniable demographic shift that could have big implications for Disney's parks' business, from an influx of consumer dollars — childless earners tend to have more disposable income than parents — to an impact on in-park rides and experiences.The phenomenon is beginning to lay waste to the stigma surrounding the "Disney adult," a term that in recent years has been used to poke fun at grown-ups with a tendency to display their die-hard devotion to the Mouse House. One Urban Dictionary entry defined a "Disney adult" as a millennial who "can't stop talking about Disney" and is "one of the most terrifyingly intense people you'll ever encounter." But the idea of donning a pair of Mickey ears or "DisneyBounding" — dressing for park visits in outfits inspired by famous Disney characters — is becoming more mainstream, and perhaps even cool, for more and more kidless millennials and Gen Zers. Disney's not just for hot, tired parents chaperoning their kids from character breakfasts to rides on Aladdin's magic carpets anymore."It's two hours away, but it's an escape," said Molly May, a 38-year-old mental-health counselor based in Florida, who, along with her husband, has held an annual Disney World pass for several years. The couple got engaged there, celebrated their five-year anniversary at Disneyland, and visited Disneyland Paris earlier this year. They're planning to commemorate 10 years with a visit to Tokyo Disneyland."The responsibility I have as an adult," May added, "disappears as soon as I walk through the gate."Francis Dominic, a social-media creator, previously worked for both Disney World and Disneyland in various roles, including as a tour guide, for four years beginning in 2014. Now he creates Disney-themed content, much of which is focused on park tips and experiences, for his audience of more than 108,000 followers on TikTok. "I hear from every single age group, from 80s all the way to teens, of just people ready to have so much fun in these parks and being so unapologetic about it," Dominic, 30, said."As millennials growing up, we were teased about loving certain princesses or certain things," he added. "Now it's more of like an 'I don't give a fuck' moment."Francis Dominic is a former Disney Parks employee who's built a robust following on TikTok creating Disney-themed content about attractions and films.Taylor Jaxson PhotographyOn a given day, 40% to 50% of parkgoers at Disney World could be adults without kids, a former parks executive saysThe trend has emerged at a time of manifold pressures for The Walt Disney Company, from a share price that's fallen more than 25% over the past year to a recent Wall Street Journal report suggesting that traffic to the Florida parks dwindled this summer. Meanwhile, rising ticket prices, coupled with soaring inflation, could be deterring some parks visitors. In the last year, 93% of respondents in a consumer survey agreed that the cost of a Disney World vacation had become untenable for "average families," and a popular Disney travel blog estimated that a "baseline" five-night trip for family of four to the Orlando parks could exceed $6,300.On top of that, throw in a monthslong political battle with Florida Gov. Ron DeSantis — which led Disney to scrap plans for a new $1 billion campus near Orlando that would have created roughly 2,000 jobs — as well as a looming threat from its crosstown rival Universal, which will open its fourth Orlando theme park in 2025, and it's clear there are challenges ahead for Disney Parks.But in the face of all this, Disney World appears to be accelerating efforts to lure adult visitors, including pricey experiences that seem less likely to appeal to families.In recent months, its Epcot theme park has introduced $250-a-person omakase dinners at the Japan pavilion's Takumi-Tei restaurant, for instance, burnishing the rite of passage known as "Drinking Around the World." It's a favorite pastime for Epcot visitors over the age of 21 who get tipsy shuffling from one country pavilion to the next, ordering internationally inspired cocktails or sipping flights of spirits at venues like the Mexico pavilion's La Cava del Tequila bar. Along with that dining glow-up, multiple high-tech rides have debuted since last year, as well as a fresh slate of holiday experiences lined up for this winter. "You can see Disney is pushing to be competitive for that adult, thrill-seeking group," Jonathan de Araujo, the founder of the Disney-authorized travel-planning service The Vacationeer, told Insider. A Disney spokesperson declined to comment for this story, and company insiders say obtaining data about any aspect of the business — such as foot traffic — can be opaque (the Journal's reporting, for example, was based on stats from the third-party company Touring Plans, which tracks wait times for rides). But, according to a former Disney executive with close knowledge of Disney World, between 40% to 50% of typical crowds at the Orlando parks are composed of adults visiting without children — people the executive categorized as "nonfamily."That number is "astonishing when you think about it," the executive, who worked in travel marketing, said, "because it's not the perception that people have." And that stat has been on a gradual uptick for several years, this person and others familiar with Disney World's foot traffic said.Tara Goldstein and Ann van Oostendorp, independent travel planners who specialize in Disney trips and call themselves the "Magic Planning Sisters," told Insider that between mid-2020 and 2023, 53% of the Disney vacations they planned were for adults only. They attributed much of the shift to the advent of hot rides — like a cutting-edge roller coaster themed after the tentpole "Guardians of the Galaxy" franchise, for example — that appeal to an older audience. "Disney knows the kids want to go," van Oostendorp said. "Now it's time to bring in the adult population."From weddings to special meals, millennials without kids are bringing disposable income to the parksTwenty-three-year-old Natalie Schwartz remembers all the visits she and her boyfriend, Brett, made to Disney World as students at the University of Tampa. "I just always have had this little-girl dream of getting married there," Schwartz told Insider several weeks after her June wedding, a nearly 120-person affair at Disney World's Grand Floridian resort. Among the perks were discounted park tickets the couple could share with more than a dozen friends, and together they spent two days venturing through the parks ahead of the ceremony. Schwartz also took her grandmother on the It's a Small World ride.This summer, Schwartz returned to Disney World to celebrate her friend Sierra Keller's 24th birthday. "Disney kind of just transports us somewhere else," said Keller, who now lives about 10 minutes from the parks in a home her family built specifically to be close to Disney. "You're not worried about elections. You're not worried about laws passing or what tomorrow's going to look like, or how many bills do I need to pay or anything. You're just in that moment and you get to kind of be carefree."Newlyweds Natalie and Brett Schwartz exchanged vows at Walt Disney World in Orlando this summer.Disney Fine Art PhotographyThe growing share of visitors like Schwartz and Keller has "slowly influenced the product choices" within the parks, the former Disney travel marketing executive said. Ultimately, the groups bringing new spending are "going to drive those decisions," this executive added. "If you look at it and you say, 'Hey, we're going to continue to do baby rides,' it's like, 'Well, wait a minute — do we really need those? Don't we have that?'"In 2021, Epcot added Space 220, an upscale restaurant designed for the Instagram age. The decor could only be described as interstellar chic — think big bay windows overlooking a simulated image of the Earth. Jason Petrina, the restaurant's general manager, told Insider he's seen more adults without kids — couples, friend groups — coming in lately, noting that many are local annual pass holders or members of Disney's timeshare program. He's gotten to know some regulars by name."They're not really concerned about spending money as long as they get a great experience," Petrina said. And that could mean springing for premium wines or lavish dishes like rib-eye steaks or lobster. He estimated that 15% to 20% of the restaurant's income stems from this group — "a huge piece of our business," he said. "If you're down 15 to 20% in sales, you might close."Drinking with mates or boozing with Mickey? How Disney's parks and retail experience is evolving.Inside the parks, signs of Disney's efforts to satisfy an older crowd — the same group it has lured to cineplexes with its investments in the Star Wars and Marvel franchises — seem ubiquitous. One of the most obvious examples is the Guardians of the Galaxy: Cosmic Rewind roller coaster, which opened in May 2022 and features preshow content starring actors like Chris Evans and Zoe Saldaña. The coaster — which launches riders backward before hurtling them into a dark, cavernous space meant to emulate the universe at the beginning of time — features songs like "September" and "Everybody Wants to Rule the World," hits likelier to perk up older ears than younger ones. This year, the Magic Kingdom added Tron: Lightcycle Run, an indoor-outdoor coaster with motorcycle-like seating. Both rides offer a far more thrill-seeking edge than stalwarts like It's a Small World.Meanwhile, Disney has said it will sunset DinoLand USA, an older corner of Animal Kingdom that featured the kid-friendly Dinosaur ride. The parks have extended hours for late-night visitors through their "After Dark" events, and at Disneyland in California, the Anaheim parks introduced their inaugural Pride Nites this June. What's more, three new Disneyland restaurants — the Carnation Cafe, River Belle Terrace, and Cafe Orleans — began serving alcohol to guests in September. Plus, the company has announced new holiday offerings at Disney World's Hollywood Studios, including a series of "Jollywood Nights" throughout November and December. The events — with ticket prices ranging from $159 to $179 per person — will feature a DJ, special cocktails, "glitz and glamor galore" at a jazz lounge, and a "soiree" at the Hollywood Tower Hotel Courtyard, the site of the Tower of Terror ride.These unique experiences are casting a spell on millennial and Gen Z wallets. "When you're here, everything feels like it's laced with magic and truly pixie dust. Sure, we'll buy $20 drinks — but if we do that at a regular bar, I'm like, 'That would be crazy.' But if it's at Disney, it's fine," said Dominic, the TikTok influencer. Beyond food and beverage offerings, high-end merch throughout the parks seems to speak to Disney's desire to capture these consumer dollars. At Hollywood Studios, sleek lightsabers like the blades wielded by iconic "Star Wars" characters such as Obi-Wan Kenobi and Emperor Palpatine retail for upward of $200. One Disney World worker said she'd witnessed tears welling up in many adults' eyes the first time they activated their laser swords.Also on the merchandise front, Disney has launched multiple capsule collections in partnership with glossy brands like Gucci, Dooney & Bourke, and Coach, emblazoning Disney iconography on everything from jeans to accessories, including a Coach backpack for nearly $600. Last year, in connection with the celebration of Disney World's 50th anniversary, merch designers from across the company worked on developing styles that would appeal to older shoppers, the former Disney travel marketing executive recalled. Many items intentionally emphasized fresh color schemes or iridescence to appeal to a customer with "more sophisticated" tastes, this former exec said.'Hey, there's a lot of adults in the parks. We haven't met a single kid today,' cast members sayDisney has had its eye on this demographic and its spending power for several years.In 2018, the company piloted a campaign called #HappyPlace, which mainly consisted of a series of videos incubated by teams at Yellow Shoes, Disney's internal advertising agency devoted to parks, experiences, and products. #HappyPlace content was geared toward childless adults who were "definitely above the drinking age," said Neph Trejo, a creative director who worked for Disney until earlier this summer and was integral to the campaign's development.The videos showcased what a trip to Disney World without children could look like for adult friend groups — including sipping on sake and feasting on fresh gyros. One video posted to Trejo's website, called "Swag Safari," is set to a moody soundtrack and portrays a fictionalized trip to Animal Kingdom in which a handful of millennials embark on the Kilimanjaro Safari and, from a high-end hotel terrace, watch giraffes wake up."Our approach was to shine a light on the beautiful tapestry of people that come to Walt Disney World," Trejo said. "It's not just about rides. It's not just about churros. It's not just about Dole Whip," he added, referring to the parks' famous frozen-pineapple treat.Halle Bailey performs at Walt Disney World's 50th anniversary celebration in 2021.Kent Phillips/ABC via Getty ImagesEven Disney characters are fielding hugs and selfies with grown-up customers these days. One Disney World employee said lines to meet iconic characters can sometimes be made up of half or more adults without children. "We're like, 'Hey, there's a lot of adults in the parks. We haven't met a single kid today,'" this person said. "Or, 'I was just out there for an hour and I saw three kids the entire time of the two to three hundred people I met.'"But there's a darker side of this demo that's created pain points for some Disney workers. Some visitors get a thrill from performing stunts seemingly conjured to go viral on social media. On TikTok, examples are plentiful of teenagers and 20-somethings physically touching or recording cast members, asking personal questions to try to break their unflappable depictions of figures like Cinderella. One video shows a woman laying her hands on the chest of an actor playing Gaston from "Beauty and the Beast." The Disney World employee recalled a guest who broke park rules by lapping water from decorative fountains. Management has addressed the situation in private conversations with parks talent, according to the employee, who said Disney World has adopted a strict policy that its actors refrain from participating in social-media trends. "You can absolutely step away or you can ask for a leadership position to come over and chat with them if it's something that's uncomfortable," the person said, describing the company's guidance. "With the internet these days, everything you do is probably going to be put online at some point, so be aware of that. So it's definitely something they touch on in our training."Ultimately, though, the parks worker says the uptick in adult attendees is "an open road for new growth.""It's a lot easier to cater to an older crowd because you can better know their wants and needs, whereas with kids, kids don't even know what they want," this employee explained, pointing to the customer-experience surveys Disney sends visitors. "It's really the adults' opinions who they care about and who they're trying to cater to."'There is a tug of war from adult to family at times,' says a former Disney ImagineerJeremy Singh loved classic Disney movies growing up and still recalls the first time he set foot in the parks at age 12. He felt an instant connection."I knew from that first trip that I'd found my thing," he said. "I wanted to know more about it, how it came to be, how everything worked."But even Singh couldn't have predicted that a decade later, he'd have relocated to Orlando, where his fascination with theme parks would blossom into a career. Now, as a content creator focused on Disney World, Singh, 23, has amassed a million followers on his JeremyTheTea TikTok page, and has been hired by Disney in what he said is a bid to reach this prized young-adult demographic."I know that when I'm called to do these things, they're probably trying to get to that audience," said Singh, noting that his primary following ranges between 21 and 28 years old.Prior to the actors' strike, which has paralyzed the promotion of most new films by movie stars and online content creators alike, Singh helped support marketing efforts surrounding Disney's live-action "Little Mermaid" film earlier this year and attended a Disneyland performance by the movie's lead actor Halle Bailey that was broadcast on "American Idol." He's also been tapped to promote Disney's Halloween festivities, which he said would tie into the company's "Haunted Mansion" film premiere, inspired by the eponymous ride.Singh has become a leading voice within a burgeoning community of Disney-focused influencers that emerged during the pandemic years and, according to experts, has helped fuel adults' interest in the parks. A search for the term #DisneyWorld on TikTok reveals that the hashtag has been associated with content viewed some 20 billion times, while Disney Parks' own TikTok page has surpassed 5.7 million followers.Francis Dominic, the former parks worker turned influencer, has also been tapped to promote Disney parks and films. He cohosted an advanced screening of Disney and Pixar's "Elemental" this year alongside Patrick Dougall, another Disney creator who's built up a TikTok following of 380,000. Attendees — the vast majority of whom were millennials — were asked to dress as their favorite element inspired by the film.But even as Disney makes a concerted push to keep this all-important audience coming back, some warn that the parks can't afford to alienate their other vital fandom: kids."There is a tug of war from adult to family at times," said Mark Eades, a former Disney Imagineer in the 1980s and early '90s who's watched the brand evolve over the decades. Unless Disney can find an equilibrium that keeps both groups happy, Eades cautioned, "I think they'll realize, 'Uh-oh, we've left the kids at the door.'"It's a difficult tightrope to navigate, but it could define the future of Disney parks. Eades — a pass holder at Disneyland in Anaheim who sits on the board of the Disneyland Alumni Club, a group of roughly 400 former parks employees — likened the situation to the retro cartoons he loved watching growing up. He enjoyed them as a kid, and he still enjoys them now."If they can succeed in doing attractions and entertainment like that," Eades concluded, "that's when you hit it out of the park."Amanda Krause contributed reporting.Are you a Disney parks or Walt Disney Co. insider? Contact this reporter. Reed Alexander can be reached via email at ralexander@insider.com, or SMS/the encrypted app Signal at (561) 247-5758.Read the original article on Business Insider.....»»

The last time a human visited the moon was in December 1972 during NASA's Apollo 17 mission. Since then, there have been many foiled plans to go back. Apollo 11 astronauts planted a flag on the moon on July 20, 1969.NASA The last time a person visited the moon was in December 1972, during NASA's Apollo 17 mission. Astronauts say the reasons why are budgetary and political, not scientific or technical. It's possible NASA could land people on the moon again by 2025, at the very earliest. Landing 12 people on the moon remains one of NASA's greatest achievements, if not the greatest.Astronauts on the Apollo missions of the 1960s and '70s collected rocks, took photos, performed experiments, planted flags, and then came home. But those stays didn't establish a lasting human presence on the moon.More than 50 years after the most recent crewed moon landing — Apollo 17 in December 1972 — there are plenty of reasons to return people to Earth's giant, dusty satellite and stay there.NASA has promised that we will see US astronauts on the moon again soon-ish — maybe by 2025 at the earliest, in a program called Artemis, which will include the first woman, Black astronaut, and Canadian to touch the lunar surface.Former NASA Administrator Jim Bridenstine, who ran the agency during the Trump administration, said it's not science or technology hurdles that have held the US back from doing this sooner."If it wasn't for the political risk, we would be on the moon right now," Bridenstine said on a phone call with reporters in 2018. "In fact, we would probably be on Mars."So why haven't astronauts been back to the moon in more than 50 years?"It was the political risks that prevented it from happening," Bridenstine said. "The program took too long and it costs too much money."Researchers and entrepreneurs have long pushed for the creation of a crewed base on the moon — a lunar space station."A permanent human research station on the moon is the next logical step. It's only three days away. We can afford to get it wrong and not kill everybody," Chris Hadfield, a former astronaut, previously told Insider. "And we have a whole bunch of stuff we have to invent and then test in order to learn before we can go deeper out."A lunar base could evolve into a fuel depot for deep-space missions, lead to the creation of unprecedented space telescopes, make it easier to live on Mars, and solve long standing scientific mysteries about Earth and the moon's creation. It could even spur a thriving off-world economy, perhaps one built around lunar space tourism.But many astronauts and other experts suggest the biggest impediments to making new crewed moon missions a reality are banal and somewhat depressing.It's really expensive to get to the moon — but not that expensiveThe Saturn V rocket helped power the Apollo missions.Bloomsbury AuctionsA tried-and-true hurdle for any spaceflight program, especially missions that involve people, is the steep cost.NASA's 2023 budget is $25.4 billion, and the Biden administration is asking Congress to boost that to $27.2 billion for 2024.Those amounts may sound like a windfall, until you consider that the total gets split among all the agency's divisions and ambitious projects: the James Webb Space Telescope, the giant rocket project called Space Launch System, and far-flung missions to the sun, Jupiter, Mars, the asteroid belt, the Kuiper belt, and the edge of our solar system. By contrast, the US defense budget for 2023 is about $858 billion.Plus, NASA's budget is somewhat small relative to its past."NASA's portion of the federal budget peaked at 4% in 1965," Apollo 7 astronaut Walter Cunningham said during congressional testimony in 2015.To compare, NASA's 2023 budget represents roughly 0.5% of US spending, according to a report from the Planetary Society. It has fluctuated between 0.4% and 1% since the 1970s, the report said.Returning to the moon costs a significant chunk of that budget. A 2021 report from NASA estimated that the Artemis program to return people to the moon would cost a total of $93 billion from 2012 through 2025.The Apollo program, for comparison, cost about $257 billion in today's dollars."Manned exploration is the most expensive space venture and, consequently, the most difficult for which to obtain political support," Cunningham said during his 2015 testimony.He added, according to Scientific American: "Unless the country, which is Congress here, decided to put more money in it, this is just talk that we're doing here."Referring to Mars missions and a return to the moon, Cunningham said, "NASA's budget is way too low to do all the things that we've talked about."The problem with presidentsFormer US President Donald Trump wanted to get astronauts back on the moon in 2024.Reuters/Carlos BarriaPresident Joe Biden may — or may not — be in office the next time NASA plans to land astronauts back on the moon in 2025, or later.And therein lies another major problem: partisan political whiplash."Why would you believe what any president said about a prediction of something that was going to happen two administrations in the future?" Hadfield previously told Insider. "That's just talk."The process of designing, engineering, and testing a spacecraft that could get people to another world easily outlasts a two-term president. But incoming presidents and lawmakers often scrap the previous leader's space-exploration priorities."I would like the next president to support a budget that allows us to accomplish the mission that we are asked to perform, whatever that mission may be," Scott Kelly, an astronaut who spent a year in space, wrote in a Reddit "Ask Me Anything" thread in January 2016, before Trump took office.But presidents and Congress don't often seem to care about staying the course.In 2004, for example, the Bush administration tasked NASA to come up with a way to replace the space shuttle, which was set to retire, and also return to the moon. The agency came up with the Constellation program to land astronauts on the moon using a rocket called Ares and a spaceship called Orion.NASA spent $9 billion over five years designing, building, and testing hardware for that human-spaceflight program.Yet after President Barack Obama took office — and the Government Accountability Office released a report about NASA's inability to estimate a realistic cost for Constellation — Obama pushed to scrap the program and signed off on the SLS rocket instead.The crew of NASA’s Artemis II mission (left to right): NASA astronauts Christina Hammock Koch, Reid Wiseman (seated), Victor Glover, and Canadian Space Agency astronaut Jeremy Hansen.NASATrump didn't scrap SLS. But he did change Obama's goal of launching astronauts to an asteroid, shifting priorities to moon and Mars missions. Trump wanted to see Artemis land astronauts back on the moon in 2024.Such frequent changes to NASA's expensive priorities have led to cancellation after cancellation, a loss of about $20 billion, and years of wasted time and momentum.Biden seems to be a rare exception to the shifty presidential trend: he hasn't toyed with Trump's Artemis priority for NASA, and he's also kept the Space Force intact.Buzz Aldrin said in testimony to Congress in 2015 that he believes the will to return to the moon must come from Capitol Hill."American leadership is inspiring the world by consistently doing what no other nation is capable of doing. We demonstrated that for a brief time 45 years ago. I do not believe we have done it since," Aldrin wrote in a statement. "I believe it begins with a bipartisan congressional and administration commitment to sustained leadership."The real driving force behind that government commitment to return to the moon is the will of the American people, who vote for politicians and help shape their policy priorities. But public interest in lunar exploration has always been lukewarm.Samantha Lee/Business InsiderEven at the height of the Apollo program, after Aldrin and Neil Armstrong stepped onto the lunar surface, only 53% of Americans said they thought the program was worth the cost. Most of the rest of the time, US approval of Apollo hovered below 50%.Most Americans think NASA should continue leading space exploration, a 2023 Pew Research Poll found. But that doesn't mean people care about going back to the moon – only 12% of the 10,329 respondents said NASA should prioritize human lunar missions.Support for crewed Mars exploration isn't much stronger, with 11% of the poll's respondents saying it should be a NASA priority. Meanwhile, 60% think that scanning the skies for killer asteroids is important.Many space enthusiasts have long hoped to build a base on the moon, but the lunar surface's harsh environment wouldn't be an ideal place for humans to thrive.NASAThe challenges beyond politics include problematic regolith and eye-popping temperature fluctuationsThe political tug-of-war over NASA's mission and budget isn't the only reason people haven't returned to the moon. The moon is also a 4.5-billion-year-old death trap for humans and must not be trifled with or underestimated.Its surface is littered with craters and boulders that threaten safe landings. The US government spent what would be tens of billions in today's dollars to develop, launch, and deliver satellites to the moon to map its surface, and help mission planners scout for possible Apollo landing sites.But a bigger worry is what eons of meteorite impacts have created: regolith, also called moon dust.Following the Apollo missions, scientists quarantined the astronauts for two weeks after they landed, in part because they were worried about the effects of the dust, according to a 2022 NASA study. The fine powder that sits on the moon's surface stuck to their suits, vehicles, and even got inside their spacecraft.Peggy Whitson, an astronaut who has spent 675 days in space, previously told Insider that the Apollo missions "had a lot of problems with dust.""If we're going to spend long durations and build permanent habitats, we have to figure out how to handle that," Whitson said.There's also a problem with sunlight and deadly solar radiation.For about 14 days at a time, the side of the moon facing Earth is a boiling hellscape that is exposed directly to the sun's harsh rays; the moon has very little atmosphere, and therefore no protection against solar radiation.The next 14 days that same side is in total darkness, dipping to temperatures below -200 degrees Fahrenheit, making the moon's surface one of the colder places in the solar system.NASA is developing a fission power system that could supply astronauts with electricity during weeks-long lunar nights — which would also be useful on other worlds, including Mars."There is not a more environmentally unforgiving or harsher place to live than the moon," astronautical engineer Madhu Thangavelu wrote. "And yet, since it is so close to the Earth, there is not a better place to learn how to live, away from planet Earth."NASA has designed dust- and sun-resistant spacesuits and rovers, though it's uncertain whether that equipment is anywhere near ready to launch."I already knew going to the moon was hard," Reid Weisman, Artemis II Mission Commander, said at a press conference in August 2023. "But boy, it's harder than I thought."An illustration of SpaceX's Starship vehicle on the surface of the moon, with Earth in the distance.Elon Musk/SpaceX via TwitterA generation of billionaire 'space nuts' may get thereAnother issue, astronauts say, is NASA's graying workforce. In 2019, more American kids polled said they dreamt about becoming YouTube stars, rather than astronauts."You've got to realize young people are essential to this kind of an effort," Apollo 17 astronaut Harrison Schmitt previously told Insider. "The average age of the people in Mission Control for Apollo 13 was 26 years old, and they'd already been on a bunch of missions."An estimated 14% of NASA's workforce is over 40 years old, according to a Zippia analysis."That's not where innovation and excitement comes from. Excitement comes from when you've got teenagers and 20-year-olds running programs," Rusty Schweickart, former NASA astronaut, said. "When Elon Musk lands a [rocket booster], his whole company is yelling and screaming and jumping up and down."Musk is part of what astronaut Jeffrey Hoffman has called a "generation of billionaires who are space nuts," developing a new, private suite of moon-capable rockets."The innovation that's been going on over the last 10 years in spaceflight never would've happened if it was just NASA and Boeing and Lockheed," Hoffman told journalists during a roundtable in 2018. "Because there was no motivation to reduce the cost or change the way we do it."Hoffman was referring to the innovative work of Musk's rocket company, SpaceX, as well as by Jeff Bezos, who founded aerospace company Blue Origin."There's no question: If we're going to go farther, especially if we're going to go farther than the moon, we need new transportation," Hoffman added. "Right now we're still in the horse-and-buggy days of spaceflight."Many astronauts' desire to return to the moon aligns with Bezos' long-term vision. Bezos has floated a plan to start building the first moon base using Blue Origin's New Glenn rocket system. "We will move all heavy industry off of Earth, and Earth will be zoned residential and light industry," he said in April 2018.Musk has also spoken at length about how SpaceX's Starship launch system could pave the way for affordable, regular lunar visits. SpaceX might even visit the moon before NASA in this century.A picture shows Starship fully stacked on its launchpad. Elon Musk said Wednesday the rocket is 'ready to launch' on its second fully integrated flight, pending regulatory approval.SpaceX"My dream would be that someday the moon would become part of the economic sphere of the Earth — just like geostationary orbit and low-Earth orbit," Hoffman said. "Space out as far as geostationary orbit is part of our everyday economy. Someday I think the moon will be, and that's something to work for."SpaceX launched its complete Starship system for the first time in April.But the rocket didn't make it to orbit as planned. Leaking propellant triggered fires in the booster, causing the system to veer off course, ultimately triggering the mega-rocket to self-destruct.Even so, astronauts don't doubt whether or not we'll get back to the moon and onto Mars. It's just a matter of when."I guess eventually things will come to pass where they will go back to the moon and eventually go to Mars — probably not in my lifetime," 95-year-old retired NASA Astronaut Jim Lovell, who flew to the moon on Apollo 8 and Apollo 13, said. "Hopefully they'll be successful."This story was originally published on July 14, 2018. It has been updated. Correction: A previous version of this story included an incorrect number of moonwalkers. During NASA's Apollo program, 12 people  landed on the moon.Read the original article on Business Insider.....»»

Per the state governor, Tesla (TSLA) and its suppliers will invest $15 billion in a Gigafactory over the next two years. The investment is thrice the amount previously announced by the officials. Tesla TSLA and its suppliers are set to invest $15 billion in a Gigafactory in Mexico over the  next two years, said Nuevo Leon Governor Samuel Garcia. The amount is three times greater than the figure reported previously by Mexican officials.In March, Elon Musk, CEO of Tesla, said that the company plans to open a gigafactory in northern Nuevo Leon state to expand its global footprint.At that time, Musk did not disclose the investment amount, but Mexican officials said the factory would require nearly $5 billion in investment.Per Reuters, Tesla and its suppliers will generate an investment of $15 billion in two years, said Garcia. He added that this amount will require the state to spend more on projects such as highways and other public works.Tesla hasn’t yet disclosed the starting date of the Gigafactory’s construction or the start of vehicle production in the same factory. Per one of Reuters’ previous reports, the automaker has plans to start electric vehicle production in Mexico in 2025.Per the previous report, Tesla’s $25,000 electric car and the robotaxi were supposed to be built on a next-generation platform. The platform was supposed to make its debut at Gigafactory Mexico, but that looks unlikely.Per Walter Isaacson's recently released biography of Elon Musk, the company has now decided to shift the next-generation electric vehicle’s (EV) initial build location from Mexico to Austin, TX. Therefore, development and initial production will now take place at the Texas Gigafactory.The main reason behind this shift in location is the engineers’ unwillingness to relocate to a neighboring country to develop a manufacturing line while they need to be on the line to make it successful.Before Tesla’s announcement, legacy automakers BMW, General Motors and Ford announced plans to start or step up EV production in Mexico as the industry transitions away from fuel-powered vehicles.Zacks Rank & Key PicksTSLA currently carries a Zacks Rank #3 (Hold).Some top-ranked players in the auto space include Oshkosh Corporation OSK , Gentex Corporation GNTX and Allison Transmission Holdings, Inc. ALSN , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for OSK’s 2023 sales and earnings implies year-over-year growth of 15% and 126.9%, respectively. The EPS estimate for 2023 and 2024 has moved north by 23 cents and 18 cents, respectively, in the past 30 days.The Zacks Consensus Estimate for GNTX’s 2023 sales and earnings indicates year-over-year rises of 17.3% and 29.4%, respectively. The EPS estimates for 2023 and 2024 have moved up by 9 cents each in the past 60 days.The Zacks Consensus Estimate for ALSN’s 2023 sales and earnings suggests year-over-year increases of 9.4% and 25.3%, respectively. The EPS estimate for 2023 and 2024 has moved up by 39 cents and 43 cents, respectively, in the past 60 days.(We are reissuing this article to correct a mistake. The original article, issued on September 13, 2023, should no longer be relied upon.) Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tesla, Inc. (TSLA): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report Oshkosh Corporation (OSK): Free Stock Analysis Report Gentex Corporation (GNTX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»

Arm Holdings made a strong debut on Nasdaq under the symbol ARM on Thursday. This is the most high-profile IPO that the Nasdaq has seen since 2021's IPO boom and draws significant attention from retail traders. British chipmaker Arm Holdings Plc made a strong debut on Nasdaq under the symbol ARM on Thursday. The stock soared as much as 21% on the first day, pushing the market cap to more than $65 billion.The chip designer, which is owned by SoftBank Group Corp., sold 95.5 million American depositary shares for $51 a piece, raising $4.87 billion in its initial public offering that valued the company at more than $54.5 billion. This is the most high-profile IPO that the Nasdaq has seen since 2021's IPO boom, which cycled into a bust in 2022, and is the biggest U.S. initial public offering of the year.Buying Binge DebutArm Holdings sizzled with its debut drawing significant attention from retail traders. Data from Fidelity's trading platform revealed that the chip designer led in buy orders on Thursday, accumulating over 20,000 purchase requests. This demand overshadowed popular retail choices such as Tesla TSLA and Nvidia NVDA. Fidelity's statistics reflect the aggregate order count placed by its self-directed retail client base.According to Yahoo Finance data, Arm was the most-traded stock on Thursday, with 108 million shares trading hands. Retail trader platform Stocktwits also highlighted Arm's ticker as trending, further indicating the company's growing appeal among individual investors.This increased retail appetite serves as a testament to the enthusiasm of smaller traders eager to invest in promising contenders within the booming AI sector. After a lull in the IPO market over the past two years, Arm's successful debut signals potential for more tech-based offerings in the near future.Arm: A Good Bet?Arm is defining the future of computing and is the industry leader in CPUs. It architects, develops and licenses high-performance, low-cost, and energy-efficient CPU products and related technology, on which many of the world's leading semiconductor companies and OEMs rely to develop their products. Arm CPUs run the vast majority of the world’s software, including operating systems and applications for smartphones, tablets and personal computers, data centers and networking equipment, and vehicles, as well as embedded operating systems in devices such as smartwatches, thermostats, drones and industrial robotics.The chipmaker has built a highly profitable business with dominance in the mobile device market. It has more than 99% of the smartphone market but lags in the fast-growing cloud computing market, with just 7% share. Arm's revenues dipped slightly to $2.68 billion in its fiscal 2023 ended Mar 31 amid weak smartphone sales.The British chipmaker is poised to benefit from the demand for artificial intelligence chips and generative AI. This industry shift has given Nvidia a market value of more than $1.1 trillion. In its IPO filing, Arm said that it has room to grow beyond just smartphones and wants to design more chips for data centers and AI applications. It expects the total market for chip designs to be worth about $250 billion by 2025 (read: Guide to Artificial Intelligence ETFs).Arm currently gets 63% of its revenues from royalties and 37% from licensing. Royalties enable Arm to get a payment per chip sold. Licensing involves giving customers access to its portfolio of intellectual property for developing Arm-based processors.However, the current valuation of the British chip company seems too high. At a $60 billion valuation, Arm’s price-to-earnings multiple is over 110 based on the most recent fiscal year profit. This is higher than that of Nvidia, which is trading at 108 times earnings. Additionally, Arm’s large exposure to China, which comprises roughly 25% of its revenues, is another headwind. China’s economy is facing increased risks of a broader economic slowdown and lowering demand amid the economic war with the United States escalating to new levels, especially in the chip industry.How to Bet?The successful market debut of ARM could pave its entry into a handful of ETFs due to the inclusion rules. Since Arm is not a U.S. company, it will be excluded from the S&P indexes. Secondly, ETFs generally require a company float of 10% or more of the shares to be eligible for inclusion. And Arm appears to have a float of roughly 9.3% of the company, according to Renaissance Capital.Renaissance IPO ETF (IPO)Renaissance IPO ETF provides exposure to the largest and most-liquid newly listed companies by tracking the Renaissance IPO Index. New companies find entry at the end of the quarter when the index rebalances. The fund currently holds 76 stocks in its basket, with double-digit exposure in the top two firms. Technology is the top sector, accounting for 52.8% share, while consumer discretionary and financials round off the next two spots with double-digit allocations each.Renaissance IPO ETF has amassed $196 million in its asset base while trading in a light volume of about 86,000 shares, probably implying additional cost beyond the expense ratio of 0.60%.First Trust US Equity Opportunities ETF (FPX)First Trust US Equity Opportunities ETF focuses on the largest, best-performing and most-liquid U.S. IPOs, and follows the IPOX-100 U.S. Index. New companies seek inclusion on a fast-entry basis after the close on the sixth day of trading. First Trust US Equity Opportunities ETF holds 103 securities in its basket, with the largest allocation going to the top five firms. The ETF is widely spread across sectors, with industrials, information technology, consumer discretionary and healthcare accounting for double-digit exposure each.First Trust US Equity Opportunities ETF has $766.2 million in AUM and trades in a volume of about 46,000 shares per day. It charges 60 bps in fees a year.Invesco QQQ (QQQ)Invesco QQQ provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. New companies seek entry at the end of the quarter when the index rebalances. Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with an AUM of $206.2 billion and an average daily volume of 46 million shares. It charges investors 20 bps in annual fees and has a Zacks ETF Rank #2 (Buy) (read: Which Fund Beats the Superstar QQQ ETF?).Invesco NASDAQ 100 ETF (QQQM)Invesco NASDAQ 100 ETF is identical to QQQ, tracking the NASDAQ-100 Index, but comes with lower annual fees of 15 bps. It holds 102 securities in its basket. NASDAQ 100 ETF has accumulated $14.6 billion in its asset base and trades in an average daily volume of 986,000 shares. It has a Zacks ETF Rank #2. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA): Free Stock Analysis Report ARM Holdings PLC (ARM): Get Free Report Tesla, Inc. (TSLA): Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports Renaissance IPO ETF (IPO): ETF Research Reports First Trust US Equity Opportunities ETF (FPX): ETF Research Reports Invesco NASDAQ 100 ETF (QQQM): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research.....»»